Bitcoin Price Pumps 2%, But Investors Rush To Buy This Learn-To-Earn BTC Offering A 1,373% Staking Return

General

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The
Bitcoin
price
pumped
2%
in
the
past
24
hours
to
trade
for
$61,905
as
of
03:54
a.m.
EST
on
trading
volume
that
surged
57%.

It
comes
amid
recent
developments
that
point
to
growing
institutional
interest
in
the
BTC
market
by
way
of
spot
exchange-traded
funds
(ETFs).
Among
them:

  • Switzerland’s
    largest
    bank,
    UBS,
    owns
    3,600
    shares
    in
    the
    BlackRock
    ETF,
    according
    to
    filings
    with
    the
    Securities
    and
    Exchange
    Commission.
  • Boston-based
    Bracebridge
    Capital
    has
    reported
    owning
    $433
    million
    worth
    of
    Bitcoin
    through
    ETFs.
  • Bank
    of
    Montreal
    disclosed
    spot
    BTC
    ETF
    holdings
    in
    a
    new
    filing.

With
institutional
players
building
positions
in
BTC
through
ETFs,
is
a
new
phase
of
adoption
starting
with
governments,
too,
joining
in?
There
are
certainly
some
early
signs
of
such
a
development
with
Donald
Trump
warming
up
to
crypto
as
he
battles
for
another
term
as
president.

These
revelations
come
as
the
market
volatility
continues
to
decrease,
leading
to
a
shift
in
net
inflows
towards
US
ETFs.
This
appears
to
be
boosting
expectations
for
a
market
rebound.

Bitcoin
Price
Prediction

The
four-hour
chart
for
the
BTC/USDT
trading
pair
shows
that
the
Bitcoin
price
has
broken
above
a
descending
trendline.
This
is
after
a
steady
streak
of
lower
highs.
The
pioneer
cryptocurrency
is
attempting
higher
highs
as
it
treads
along
an
ascending
trendline.

However,
the
upside
potential
may
be
capped
for
now,
with
the
dome-shaped
Relative
Strength
Index
(RSI)
showing
momentum
is
falling.
A
lower
high
on
the
RSI,
coupled
with
a
slip
of
the
Bitcoin
price
below
the
$60,630
support
level
would
signify
a
change
in
market
structure.

For
the
bullish
thesis
to
be
invalidated,
however,
the
Bitcoin
price
must
extend
the
fall
to
record
a
lower
low
below
$56,552.
The
market
appears
to
be
favoring
the
downside,
seen
with
the
RSI
below
the
mean
level
of
50.
The
position
of
the
Awesome
Oscillator
(AO)
in
negative
territory
accentuates
this
outlook.

Bitcoin price


BTC/USDT
4-hour
chart

However,
a
show
of
strength
among
BTC
bulls
could
see
the
Bitcoin
price
recover.
A
breach
of
the
$63,354
roadblock
would
entice
more
bulls,
with
the
ensuing
buying
pressure
sending
the
pioneer
cryptocurrency
to
the
$65,500
threshold.

This
would
also
signify
another
change
in
market
structure
in
favor
of
the
upside,
@DaanCrypto
says,
adding
that
it
could
lead
to
a
move
towards
the
range
highs
again.

In
a
highly
bullish
case,
the
Bitcoin
price
could
extend
a
neck
higher
to
the
$70,000
psychological
level..
This
would
provide
a
good
jumping-off
point
for
BTC
to
retake
the
$72,797
range
high,
or
in
a
higher
bullish
case,
the
all-time
high
of
$73,777.

On-Chain
Metrics
To
Support
Bearish
Outlook
For
Bitcoin
Price

According
to
IntoTheBlock’s
In/Out
of
the
Money
Around
Price
(IOMAP)
metric,
the
Bitcoin
price
faces
strong
resistance.
The
more
immediate
roadblock
ranges
between
$61,915
and
$63,728
where
1.84
million
addresses
hold
approximately
722.52K
BTC.
These
were
purchased
at
an
average
price
of
$62,603.

IOMAP


BTC
IOMAP

Meanwhile,
as
the
Bitcoin
price
continues
to
struggle,
some
investors
are
pivoting
into
the
99BTC
presale,
which
has
raised
upwards
of
$1.25
million.

Promising
Alternative
To
Bitcoin


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Investors
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99BTC
tokens
for
an
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of
1,373%.
So
far,
upwards
of
793
million
99BTC
tokens
have
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staked.

Each
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token
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selling
for
$0.00105.
The
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