Despite market volatility, the BTC chart remains technically positive as the price movement above $106,350 indicates a short-term breakout, confirming a reversal of the current price trend, which could push BTC towards $107,640 followed by $108,864.
Ideas for traders:
Entry point: Above $106,350 with good trading volumes
Stop-loss order: Below $104,000
Target levels: $107,640 (initial level) then $108,864 (extended)
In light of the declining performance of major altcoins and reduced risk appetite, Bitcoin's stability may attract cautious investors. Unless its price drops below $103,169, its upward trend will remain intact, especially in the current environment, where Bitcoin is not just a digital currency but represents a safe haven.
The nearing BTCBULL offering of $8.1 million and the 58% staking yield attract late investors
With BTC trading near $105,000, investors' attention has shifted towards altcoins, especially the BTC Bull (BTCBULL) project which has raised $7,152,878.88 out of its target of $8,216,177. Thus, less than a million dollars remain before the next price increase, noting that BTCBULL is currently priced at $0.002565, and its price is expected to rise once the project achieves its next goal.
The value of BTC Bull is closely linked to Bitcoin's performance through two main mechanisms, which are:
□ Rewarding its holders with free Bitcoin balances, with priority given to participants in the offering.
□ BTCBULL tokens are automatically burned every time BTC's price increases by $50,000, reducing the circulating supply of the first currency.
Additionally, the project offers an annual staking yield (APY) of 61% while its staking pool holds over 1.73 billion tokens, providing the following:
□ No booking periods or fees available
□ Availability of liquidity
□ Providing income effortlessly even during market volatility
This staking model appeals to both experienced and novice investors in the decentralized finance (DeFi) sector seeking quick and easy income. With just a few hours left and the funding goal approaching, the positive momentum for BTCBULL is accelerating, combining its value linkage to BTC with mechanisms that ensure supply scarcity and flexible staking, which may increase demand for it. Therefore, those interested in the project should act quickly before the next price increase.
