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The Bitcoin price dropped 1% in the last 24 hours to trade at $67,424 as of 00:50 a.m. EST on trading volume that surged 46% to $42 billion.
This comes as Bitcoin spot ETFs (exchange-traded funds) cumulatively netted over $17 billion in inflows since launch in January, a new record driven mainly by BlackRock’s IBIT.
IBIT recorded its biggest day of inflow since March, with over $523 million entering the fund on Monday. BlackRock purchased 7,759 Bitcoin on July 22, bringing its total sum to 333,000 BTC, amounting to approximately $22 billion.
🚨 BlackRock buys 7759 BTC ($523m)!!
HUGE 🚀 pic.twitter.com/RgFXSSjOt0
— Julian Fahrer (@Julian__Fahrer) July 22, 2024
Bitcoin Price To Continue Its Surge Over The Ascending Triangle
The Bitcoin price has been on a tear in July, up 16% in the last two weeks, according to data from GeckoTerminal. It rose from the $58,000 support zone to soar to $68,444, which acted as the immediate support zone as the price of Bitcoin fluctuated within an ascending triangle pattern.
BTC price aims for a breakout above, as the asset trades above the 50-day and 200-day Simple Moving Averages (SMAs), confirming the bullish rally to the upside.
Moreover, the Relative Strength Index (RSI) is rebounding from the 50-midline level, as it aims for a breakout above. Trading within the 50-midline level shows that the price is in equilibrium, as the bulls aim to push the token up.
Bitcoin Price Prediction
According to the Bitcoin price analysis on the 1-hour chart, the bulls aim to use the ascending triangle pattern to propel the token to the upside as they target $71,247.
Furthermore, according to 10X Research founder Markus Thielen, there is a solid chance that Republican nominee Donald Trump will surprise everyone by announcing that he will make Bitcoin a strategic reserve asset at the upcoming Bitcoin 2024 conference in Nashville on July 25.
This could mean some bullish prospects for the price of Bitcoin in the coming weeks.
❗JUST IN: Taking Profits on Bitcoin Ahead of Trump Conference Appearance Could Be ‘Expensive Exercise’: Analyst❗
Markus Thielen, founder of 10x Research, fully expects Trump to win the November election, triggering an early exit for SEC Chair Gary Gensler.
— Better CallBot (@CallBotCrypto) July 22, 2024
However, if the bears take control of the price to breach the critical support at $67,000, the BTC price may retrace further to $62,684.
Meanwhile, Bitcoin investors are also eyeing another Bitcoin-linked project called 99Bitcoins (99BTC), which has just blasted past $2.5 million in funds raised in its presale.
Jacob Bury, a prominent crypto YouTuber, believes that 99BTC has the potential to turn $1K into $10K after launch.
99Bitcoins Presale Blasts Past $2.5 Million – Best Crypto To Buy Now?
99Bitcoins has been a sensation in the crypto space. It’s an educational platform with over 700,000 subscribers on its YouTube channel and over 2 million people registered for the website’s courses.
99Bitcoins uses a simplified approach to education with interactive videos to make learning about anything in the space easier and fun.
What is Spatial Computing? Discover how #Blockchain is transforming AR/VR, making immersive digital worlds more interactive and secure.
Dive deeper: https://t.co/2hlZYRFHBv#99BTC #SpatialComputing #Web3
— 99Bitcoins (@99BitcoinsHQ) April 8, 2024
99Bitcoins is now set to create a decentralized platform that will allow users to learn more about crypto and earn tokens by leveraging their education.
It will enhance the learning experience by gamifying Bitcoin education. Users who complete challenges and lessons earn higher rankings and $99BTC tokens as rewards.
99Bitcoins also integrates with BRC-20, which allows users to easily build dApps on the Bitcoin network.
Introducing $99BTC on BRC-20! 🎓
Since 2013, #99Bitcoins has been the go-to resource for learning about #Cryptocurrency.
We’re launching a platform that enables the building of #dApps on top of the #Bitcoin network!💡#LearnToEarn rewards users on the Bitcoin blockchain.🙌
— 99Bitcoins (@99BitcoinsHQ) April 30, 2024
Buy And Stake 99BTC For 685% Annual Rewards
The team has already set aside 14% of the token’s 99 billion total supply for staking rewards so you can earn passively through the platform’s staking mechanism. This offers an impressive annual percentage yield (APY) of 685%.
You can buy 99BTC now for $0.00114. But with a price hike coming in about an hour interested investors need to buy quickly to secure the best deal.
To join the presale, buy $99BTC from the official website here. You have the option of buying the tokens using ETH, USDT, or a bank card.
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99Bitcoins (99BTC) – New Learn To Earn Token
- Audited By Solid Proof
- Established Brand – Founded In 2013
- Free Airdrop – Win A Share Of $99,999
- Learn To Earn – Get Paid To Complete Trading Courses
- 700,000+ YouTube Community
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