The Bitcoin price climbed 2% in the last 24 hours to trade at $67,051 as of 03:42 a.m. EST on trading volume that surged 22% to $49 billion.
This comes as Elon Musk’s Tesla, one of the largest corporate holders of Bitcoin (BTC), transferred nearly all $760 million worth of its BTC holdings to unknown wallets, sparking speculation that the company may be selling.
Crypto data firm Arkham Intelligence reported that wallets linked to Tesla moved over 11,500 BTC on Tuesday, leaving only about $6.65 worth of BTC in the wallets.
Bitcoin Price On A Bullish Rally
According to data from GeckoTerminal, the Bitcoin price has been in a sustained consolidation phase since mid-September, within the $57,500 support and $66,000 resistance.
The Bitcoin price has eventually crossed the upper boundary of the sideways pattern at $66,000, which could affirm the bullish rally to the upside.
BTC now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), upholding the golden cross at $58,929. This confirms the recent price uptrend.
Furthermore, the Relative Strength Index (RSI) is at 70.16, hovering around the overbought territory. This indicates that the asset might be overbought, and a pullback or consolidation could be expected in the short term. However, RSI in overbought regions during a strong bullish trend can remain elevated for an extended period before any correction happens.
The Moving Average Convergence Divergence (MACD) further supports the general bullish trend, as the MACD blue line crosses above the orange signal line, forming a bullish crossover.
If the current bullish stance continues, the price of Bitcoin could soar even higher, as the bulls target the $72,000 psychological resistance.
BTCUSD Chart Analysis Source: GeckoTerminal.com
However, if the bears take charge of the price at this level, BTC could plunge back to the $62,000 support zone, which now acts as a cushion against downward pressure.
Meanwhile, investors aiming to diversify their portfolios with higher risk, higher reward meme coins might consider the new presale Flockerz (FLOCK), which has amassed over $733K in less than a month.
According to 99Bitcoins, a popular crypto channel on YouTube with over 706K subscribers, $FLOCK has the potential to soar 100X after its launch.
Flockerz Presale Garners Over $733K In Presale
Flockerz is a project that redefines decentralization in the world of meme coins by incentivizing its holders, ”The Flock,” to guide the project’s future.
It does this via a Vote-to-Earn (V2E) model that rewards token holders with FLOCK for voting on decisions.
The flock is flying high! We’ve officially crossed $300K! pic.twitter.com/MsLc5PeoyX
— Flockerz (@FlockerzToken) September 28, 2024
In Flocktopia, decisions about the project’s future are made collectively by “The Flock.” Every member has a say, making the platform a truly decentralized and inclusive environment.
Apart from V2E rewards, users can also earn passively through the platform’s staking mechanism, which offers a sky-high annual yield of 2,367%.
To join the presale, you can buy $FLOCK on the official website here for $0.005793 per token using BNB, ETH, or USDT. You can also make a purchase using your bank card.
Buy before a price hike in less than three days to secure the best deal.
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