Bitcoin Price Holds Near $105K with Increased On-Chain Activity
Bitcoin is currently trading at $104,983, with no significant price change in the last 24 hours. It remains below the $105,000 mark while experiencing increased on-chain activity.
- All-time high reached $112,000 on May 22
- Recent drop below an ascending support trendline from early April
- Positive sentiment among long-term holders and large investors persists
On-chain metrics indicate:
- 556,830 new Bitcoin wallets created on May 29, the highest since December 2, 2023
- 241,360 Bitcoin circulated on June 2, a peak not seen since December 8, 2024
- Wallets holding 10 to 10,000 Bitcoin accumulated 79,244 BTC over the past week
BTC Price Outlook
Bitcoin faces critical support between $102,000 and $104,000. Analysts warn of potential deeper corrections if this range fails to hold.
- Need to maintain support with rising volume
- Reclaiming trendline could lead to retesting resistance at $109,000
The Relative Strength Index (RSI) is at 52, indicating a possible downturn. Holding above the middle Bollinger Band near $106,715 could enable a target of $111,000; otherwise, a drop to $102,400 is possible.
BTC price chart with RSI and Bollinger Bands | Source: TradingView
Bitcoin Bull Presale
A new meme coin, Bitcoin Bull (BTCBULL), is gaining traction by aligning rewards with Bitcoin's performance. The presale details include:
- Token price: $0.002545
- Capital raised: $6.83 million
- Token symbol: BTCBULL
- Accepted currencies: ETH, USDT
The presale targets $7.7 million, reflecting strong community interest amid Bitcoin's bullish outlook.