bullish

Token

Jerome Powell

Bitcoin

Reserve

The Bitcoin price dropped 3% in the last 24 hours <a href="https://www.geckoterminal.com/eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed" rel="noopener noreferrer nofollow">to trade at $63,878</a> as of 00:52 a.m. EST on trading volume that surged 26% to $35 billion.
Bitcoin’s price plunged below $65,000 for the first time since July 25 after the US Federal Reserve decided to keep interest rates unchanged while Chair Jerome Powell hinted at an interest rate cut in September.
The BTC price correction is also influenced by reports of escalating conflict in the Middle East, prompting investors to become more risk averse.
<h2 id="bitcoin-price-bearish-could-the-bulls-stage-a-bullish-trend-reversal">Bitcoin Price Bearish – Could The Bulls Stage A Bullish Trend Reversal?</h2>
The Bitcoin price was on a rally in July, as it soared from $57,256 support to rally to as high as $69,968 on July 29, according to data from <a href="https://www.geckoterminal.com/eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed" rel="noopener noreferrer nofollow">GeckoTerminal</a>. However, the BTC price has formed a double-top pattern, which has created some bearish prospects, with BTC trading within the neckline.
The Relative Strength Index (RSI) is dropping towards the 30-oversold level, currently at 31, showing that the asset is undervalued and under intense selling pressure.
However, BTC trades above the 200-day Simple Moving Average (SMA), which the bulls could use to stage a bullish trend reversal. If the price surges, the 50-day SMA, at $66,707, acts as the immediate resistance.
According to the Bitcoin price analysis on the 4-hour chart, BTC is currently on a bearish trend. The bears capitalize on the double top pattern, as the RSI shows sellers have the upper hand.
If this pattern sustains, the BTC price could breach the $62,535 support to drop to the next support zone at $57,500.
<figure id="attachment_559347" aria-describedby="caption-attachment-559347" style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="wp-image-559347 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/08/WBTC_2024-08-01_07-52-33.png" alt=" Bitcoin Price Chart Analysis Source: GeckoTerminal.com" width="1113" height="488" srcset="https://insidebitcoins.com/wp-content/uploads/2024/08/WBTC_2024-08-01_07-52-33.png 1113w, https://insidebitcoins.com/wp-content/uploads/2024/08/WBTC_2024-08-01_07-52-33-300x132.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/08/WBTC_2024-08-01_07-52-33-1024x449.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/08/WBTC_2024-08-01_07-52-33-768x337.png 768w" sizes="(max-width: 1113px) 100vw, 1113px">
 <figcaption id="caption-attachment-559347" class="wp-caption-text">
 Bitcoin Price Chart Analysis Source: GeckoTerminal.com
 </figcaption>
</figure>
Conversely, with the token trading above the 200-day SMA, there could be a bullish stance in the coming days, with a bullish trend reversal likely to push BTC up to $68,507.
Moreover, Bitcoin’s RSI is now at the oversold level, which could be a potential buy signal, pushing the price of Bitcoin up.
Amid uncertainty over the outlook for the Bitcoin price, some investors are shifting to 99Bitcoins (99BTC), which is offering a last chance to buy before its presale closes in just 5 days.&nbsp;
According to Jacob Bury, a prominent crypto YouTuber, 99BTC has the potential to turn $1K into $10K after launch.
<iframe title="New 10x Potential Crypto Presale 99Bitcoins - Flip $1k into $10k?!" width="640" height="360" src="https://www.youtube.com/embed/G2trqq3KNYE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
<h2 id="99bitcoins-presale-hurtles-past-2-5-million-last-chance-to-buy">99Bitcoins Presale Hurtles Past $2.5 Million – Last Chance To Buy</h2>
<a href="https://insidebitcoins.com/visit/99bitcoins" rel="noopener noreferrer nofollow">99Bitcoins</a> is an educational platform with over 700,000 subscribers on its YouTube channel, and more than 2 million customers registered for the website’s courses.
The platform aims to enhance the learning experience by gamifying crypto education, with users completing challenges and lessons to earn higher rankings and $99BTC as rewards.
The L2E narrative could be the next big thing in crypto, as evidenced by the 99BTC presale, which has soared to over $2.5 million raised
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 What is Spatial Computing? Discover how <a href="https://twitter.com/hashtag/Blockchain?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Blockchain</a> is transforming AR/VR, making immersive digital worlds more interactive and secure.
 Dive deeper: <a href="https://t.co/2hlZYRFHBv" rel="noopener noreferrer nofollow">https://t.co/2hlZYRFHBv</a><a href="https://twitter.com/hashtag/99BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#99BTC</a> <a href="https://twitter.com/hashtag/SpatialComputing?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SpatialComputing</a> <a href="https://twitter.com/hashtag/Web3?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Web3</a>
 — 99Bitcoins (@99BitcoinsHQ) <a href="https://twitter.com/99BitcoinsHQ/status/1777275219423490318?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 8, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Token holders can earn passively through the platform’s staking system, which offers an impressive 669% annual percentage yield (APY).
You can buy 99BTC now for $0.00116. But with a price hike coming in about five days, don’t wait too long to secure the best deal.
To join the presale, <a href="https://insidebitcoins.com/visit/99bitcoins" rel="noopener noreferrer nofollow">buy $99BTC from the official website here</a>. You have the option of buying the tokens using ETH, USDT, or a bank card.&nbsp;
<h2 id="related-news">Related News</h2>
<ul>
 <li style="font-weight: 400;"><a href="https://www.linkedin.com/pulse/where-buy-presale-crypto-unlock-exclusive-early-now-calsona-q7xie" rel="noopener noreferrer nofollow">Where to Buy Presale Crypto: Unlock Exclusive Early Investments Now! 🎉🎉</a></li>
 <li style="font-weight: 400;"><a href="https://www.linkedin.com/pulse/upcoming-crypto-presales-unlock-early-investment-calsona-plu5e" rel="noopener noreferrer nofollow">Upcoming Crypto Presales: Unlock Early Investment Opportunities! 🚀🌟</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/buy-cryptocurrency/buy-bitcoin/debit-card/" rel="noopener noreferrer nofollow">How to Buy Bitcoin with Debit Card</a></li>
</ul>

Bitcoin Price Plunges 3% As Powell Hints At September Cut After Fed Leaves Rates Unchanged And Traders Rush To Buy 99BTC With Just Days Left

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