Bitcoin Price Stalls At $58K With $1.4B BTC Options Set To Expire As Analysts Predict This SHIB 2.0 Could 100X

The
Bitcoin
price
rose
by
a
fraction
of
a
percentage
in
the
last
24
hours


to
trade
at
$58,346

as
of
03:36
a.m.
EST
on
trading
volume
that
surged
5%
to
$34
billion.

This
comes
as
around
24,300
Bitcoin
options
contracts
expire
today,
with
a
notional
value
of
around
$1.4
billion.

Will
Bitcoin
fall
after
the
options
expire,
having
stalled
around
$58K
in
the
last
two
days?

Bitcoin
Price
Could
Rebound

The

Bitcoin
price
movements
in
July
formed
a
rounding
top
pattern
as
the
bears
took
control
of
the
price
and
drove
it
to
the
$49,000
support.
However,
in
August,
the
price
of
Bitcoin
invalidated
the
bearish
sentiments
of
the
pattern,
soaring
to
the
$63,000
resistance,
according
to
data
from

GeckoTerminal.

BTC
has
since
been
trading
within
a
falling
channel
pattern,
but
the
bulls
aim
for
a
price
rebound
over
the
channel.

The
price
of
Bitcoin
still
trades
below
both
the
50-day
and
200-day
Simple
Moving
Averages
(SMAs),
supporting
the
bearish
movements
from
its
resistance
level.

Moreover,
the
Relative
Strength
Index
(RSI)
currently
trades
slightly
below
the
neutral
level,
at
43,
which
indicates
that
bulls
are
accumulating
and
aiming
for
a
rebound
over
the
channel.

According
to
the
Bitcoin
price
analysis,
BTC
is
currently
bearish,
but
shows
that
the
bulls
are
preparing
for
a
rebound
over
the
falling
channel
pattern.
If
the
bulls
take
charge
of
the
price
at
this
level,
BTC
could
soar,
as
buyers
look
to
target
$68,000.

However,
if
the
bears
sustain
the
current
pressure,
the
price
of

Bitcoin
could
plunge
back
to
the
$54,314
support
zone.

Meanwhile,
as
the
Bitcoin
price
aims
for
a
bullish
rally,
investors
are
piling
into
a
Shiba
Inu
derivative
called


Shiba
Shootout
($SHIBASHOOT),
which
has
amassed
over
$961K
through
its
explosive
presale.

According
to
an
analyst
from
the
crypto
channel
99Bitcoins,
investors
who
buy
$SHIBASHOOT
have
the
possibility
of
earning
insane
rewards.

Shiba
Shootout
Presale
Surges
Past
$961K,
Races
Towards
Its
$1.6
Million
Target

Shiba
Shootout
crafts
a
Wild
West-inspired
environment
that
pushes
beyond
conventional
crypto
limits.
It
offers
an
adventurous
experience
blending
creativity,
strategy,
and
the
allure
of
a
cowboy
duel.

Hurry!
????
Next
price
hike
is
just
around
the
corner!

Join
our
community
NOW
and
claim
your
free
tokens
before
it’s
too
late!
????

Join
us
at:

https://t.co/Fxf9PWP0gz

pic.twitter.com/t8H6MqqhSE

—
shibashootout
(@shibashootout)

July
31,
2024

Users
can
navigate
the
crypto
world
with
the
flair
of
a
Shiba
cowboy,
participating
in
thrilling
high-stakes
battles
with
ample
opportunities
for
fun
and
rewards.
The
project’s
main
attraction,
a
play-to-earn
(P2E)
mobile
game,
immerses
players
in
Shiba
Gulch,
a
vibrant
battleground
where
they
can
earn
$SHIBASHOOT
tokens.

Apart
from
the
P2E
crypto
gaming
in
Shiba
Gulch,
$SHIBASHOOT
holders
can
earn
passively
through
the
platform’s
staking
mechanism,
offering
985%
annual
rewards.

Moreover,
the
developing
ecosystem
features
Posse
Rewards,
where
users
can
invite
friends
to
join
the
community.
Both
parties
can
then
earn
bonus
Shiba
Shootout
tokens
for
each
new
signup.

If
you
are
interested
in
participating
in
the
presale,
you
can
buy
the
token
for
$0.0199.
But
hurry
as
the
price
will
increase
in
less
than
seven
days.

You
can
buy
SHIBASHOOT
tokens
on
the
official
website
here

using
ETH,
BNB,
USDT,
or
a
bank
card.

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