Charlie Shrem Launches New Bitcoin Faucet Project 21million.com
Charlie Shrem has introduced a modern version of the Bitcoin faucet through his project 21million.com. The original faucet, launched in 2010, distributed 19,700 BTC for solving CAPTCHA puzzles, valued at over $1.86 billion now. Although Shrem's faucet is not active yet, it aims to promote cryptocurrency awareness.
Bitcoin Market Update
- Bitcoin is consolidating after an April rally, currently trading around $94,597, down 1.5% in 24 hours.
- Traders are monitoring the US Federal Reserve's policy meeting on May 7, with a 97.2% likelihood of maintaining interest rates between 425-450 bps.
- The US Dollar Index has decreased nearly 11% over the past 100 days, potentially benefiting cryptocurrencies.
- Spot Bitcoin ETFs have gained over $4 billion since late March; MicroStrategy purchased 25,370 BTC worth $2.44 billion in April.
BTC Price Analysis
- RSI stands at 61, having briefly crossed 70, previously indicating potential surges.
- Support levels identified at $92,200 and $88,000, with a critical level at $85,400.
- Price is nearing the upper Bollinger Band, reflecting consolidation with a bullish bias.
- A TD Sequential sell signal on the 3-day chart indicates risk if Bitcoin fails to hold above $95,000.
- MACD shows a bullish crossover but with weakening momentum, suggesting possible short-term retracement.
BTC price chart | Source: TradingView
BTC price chart | Source: TradingView