Bitcoin Price Prediction: BTC Plummets 3% As Rate Fears Overshadow Ethereum ETF Approvals, But The 99BTC ICO Surges Past $1.5 Million

The
Bitcoin
price
plunged
3%
in
the
last
24
hours


to
trade
at
$67,440

as
of
7:50
a.m.
EST
on
a
22%
surge
in
trading
volume
to
$36.1
billion.

This
drop
was
primarily
driven
by
concerns
over
the
risk
of
higher
for
longer
US
interest
rates,
which
overshadowed
the
upbeat
news
that
the
US
approved
spot
Ethereum
ETFs
(exchange-traded
funds).

Fears
over
US
interest
rates
put
significant
pressure
on
crypto
markets
after
hawkish
signals
from
Federal
Reserve
members
highlighted
growing
concerns
among
policymakers
about
persistent
inflation.

Several
Fed
members
indicated
that
inflation
might
take
longer
to
hit
the
central
bank’s
2%
annual
target.
Additionally,
minutes
from
the
bank’s
late
April
meeting
revealed
that
some
policymakers
were
are
open
to
further
interest
rate
hikes.

Bitcoin
Price
Declines
Back
To
The
Bullish
Pennant:
Can
The
Bulls
Regain
Momentum?

Despite
maintaining
some
gains
for
the
week,
Bitcoin
fell
back
into
the
$60,000
to
$70,000
trading
range
it
has
occupied
for
over
two
months.
The
cryptocurrency
also
erased
much
of
its
weekly
gains
on
Thursday
and
Friday.

BTCUSDT 
Analysis.
Source:
Tradingview.com

The
bullish
pennant
formation
suggests
there’s
potential
for
an
ongoing
upward
trend.
This
pattern
indicates
that
the
bullish
momentum
might
continue,
possibly
pushing
prices
past
Bitcoin’s
all-time
high
of
$73,737.

Though
declining,
the
price
signals
a
rebound
in
the
50-day
simple
moving
average
(SMA).
The
200-day
SMA
is
providing
immediate
support,
maintaining
the
overall
bullish
momentum.
If
Bitcoin
moves
upward,
it
could
confirm
the
expected
rally
above
the
50-day
Simple
Moving
Average
(SMA)
and
break
through
the
upper
trendline
of
the
pennant. 

The
Relative
Strength
Index
(RSI)
has
rebounded
from
the
oversold
level
of
30
to
the
midline
at
50,
showing
intense
buying
pressure.
Even
though
it
indicates
a
downtrend,
the
50
mark
signals
a
rebound,
which
might
push
the
RSI
back
to
the
overbought
zone. 

Additionally,
the
green
bars
on
the
Moving
Average
Convergence
Divergence
(MACD)
indicator
and
the
recent
crossover
above
the
signal
line
boost
confidence
in
Bitcoin’s
bullish
outlook.

Bitcoin
Price
Bulls
Signal
A
Rebound
On
The
50
SMA

The
Bitcoin
price
is
on
the
brink
of
a
great
bull
rally
despite
the
short
downtrend
to
the
50
SMA
as
traders
capitalize
on
the
presence
of
the
bullish
pennant
to
drive
the
bullish
momentum
towards
a
new
high
of
$81527.

However,
if
the
bears
continue
the
downtrend,
the
price
might
drop
below
the
50
SMA
within
the
pennant
to
$60,000.
Further
downward
pressure
could
lead
to
a
retracement
towards
the
lower
trendline
at
$58.514.

99Bitcoins:
Best
Learn-To-Earn
Crypto?

Meanwhile,
Bitcoin’s
slump
is
doing
little
to
quell
the
appetite
of
investors
for


99Bitcoins
($99BTC),
a
learn-to-earn
platform
that
has
rocketed
past
$1.5
million
in
funds
raised
in
its
presale.

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

99Bitcoins

is
an
educational
platform
with
over
2
million
registered
users
for
its
courses. The
platform
is
gearing
up
to
launch
a
decentralized
platform
that
aims
to
empower
users
to
delve
deeper
into
the
world
of
crypto
while
allowing
them
to
earn
crypto
tokens
through
education.
It
uses
a
friendly
approach,
utilizing
interactive
videos
to
simplify
learning.

With

#Bitcoin
up
15%
and

#Ethereum
up
18%,
it
appears
the
old
saying
“Sell
in
May,
and
go
away”
doesn’t
bother

#Crypto
????

#99Bitcoins

#BullRun

#BTC

#ETH

pic.twitter.com/UEIWMRr3du

—
99Bitcoins
(@99BitcoinsHQ)

May
23,
2024

Get
Huge
Staking
Rewards,
Have
Fun
Learning, 

99Bitcoins
plans
to
make
learning
about
Bitcoin
more
fun
by
turning
it
into
a
game.
Users
who
complete
lessons
and
tackle
challenges
earn
higher
rankings
and
rewards
through
$99BTC
tokens. 

Of
the
99
billion
total
token
supply,
14%
is
set
aside
for
staking
rewards,
allowing
investors
to
stake
their
tokens
for
an
impressive
1,071%
annual
yield
(APY).

Jacob
Bury,
a
prominent
crypto
YouTuber,
believes
that
99BTC
can
potentially
explode
100X
after
launch
on
tier-one
exchanges.

You
can
buy
99BTC
for
just
$0.00106
per
token
right
now.
But
you
need
to
hurry
because
the
price
will
increase
in
less
than
four
days.

Buy
$99BTC
from


the
official
website
using
ETH,
USDT,
or
a
bank
card.

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