Bitcoin at 107,300 Dollar Level: FBI Operation and Reserve Proposal from India on the Agenda
The leading cryptocurrency Bitcoin (BTC) is trading around 107,300 dollars on Friday. While significant developments are occurring in the market, no major change has been observed in the price of Bitcoin. Here are the highlights:
FBI Captured the Cyber Criminal Known as 'IntelBroker'
The FBI announced that Kai West, a British national known by the alias 'IntelBroker', was arrested in France for cybercrime activities. It was stated that West sold stolen data on the darknet in exchange for Bitcoin and Monero, causing approximately 25 million dollars in damages by targeting over 40 companies.
According to claims, an FBI agent made a 250 dollar Bitcoin payment to access secret data. The IntelBroker group is reported to have sold data worth a total of 2.5 million dollars. This group, which gained notoriety in the cybercrime circles in 2024, is now at the center of a judicial process.
Despite this development, there was no decline in Bitcoin's price. Experts state that although the crypto is open to illegal use, the traceability of transactions is a positive indicator in terms of market confidence.
Call for Bitcoin Reserve from India
Pradeep Bhandari, spokesperson for the ruling BJP party in India, suggested that the country should create a Bitcoin reserve. In an article he wrote for India Today, Bhandari recalled that countries like the USA and Bhutan have taken strategic steps in this area, stating that India's participation in this trend would be beneficial.
Bhandari also emphasized that India's emerging renewable energy capacity presents a significant potential for Bitcoin mining. He believes that the clarifying regulations in the country could accelerate crypto innovation and support foreign capital inflow.
Currently, a 30% tax is applied to crypto income in India. Still, interest in crypto in the country continues to remain strong.
Bitcoin Technical Outlook: Compression at Resistance Continues
When examining Bitcoin's short-term (2-hour) chart, it is seen that the 108,250 dollar level is acting as a significant resistance. The recovery from 99,717 dollars allowed the price to break through the 0.618 Fibonacci level at 102,977 dollars and the 0.5 Fibonacci level at 103,984 dollars. However, the price is trapped in a narrow range.
In technical analysis, such price movements may indicate a 'rising wedge' formation that typically results in a downward breakout. Critical support levels are highlighted at the 50 EMA at 106,147 dollars and the 23.6% Fibonacci level at 106,237 dollars. On the other hand, the MACD indicator is showing negative divergence signals.
If Bitcoin cannot break the resistance at 108,250 dollars, a pullback towards the 104,000 dollar level may occur. However, if this level is surpassed, the price is projected to rise to 109,257 and 110,448 dollars respectively.
BTC Bull Token Pre-Sale Approaching 8.4 Million Dollar Target
While the price of Bitcoin hovers around 107,000 dollars, investor interest in the BTC Bull Token (BTCBULL) pre-sale continues. So far, approximately 7,438,493 dollars of the targeted 8,397,441 dollars has been collected.
The BTCBULL token, currently selling at 0.00258 dollars, stands out with its high-yield staking options, differentiating it from other meme coins.
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