Bitcoin Price Soars 4% After MicroStrategy Buys $1.1 Billion BTC, And This PEPE 2.0 Blasts Past $13 Million In Presale

Bitcoin Price Surge Fueled by Acquisition and Technical Momentum

The Bitcoin price has soared 4% in the past 24 hours, reaching $60,628 as of 08:23 p.m. EST. This rise comes despite a 1% decline in trading volume to $32.6 billion.

The surge coincides with MicroStrategy Inc.'s purchase of 18,300 Bitcoin for approximately $1.11 billion, the largest acquisition of the digital asset by the crypto hedge fund firm in over three years. MicroStrategy now holds about 244,800 Bitcoin, valued at approximately $14 billion, representing nearly 1% of all BTC ever issued.

Technical Indicators Suggest Continued Bull Run

Technical indicators support the bullish momentum behind Bitcoin's price increase. Data from GeckoTerminal shows the price has recently broken above both the 50-day and 200-day Simple Moving Averages (SMAs), confirming an upward trend.

The Relative Strength Index (RSI) is currently trading above 70, indicating overbought conditions and strong buying pressure. The Moving Average Convergence Divergence (MACD) has also moved above the zero line and the signal line, forming a bullish crossover.

Bullish Targets and Potential Pullback

If the current bullish momentum persists, Bitcoin could target $64,000 in the upcoming days. However, the RSI's overbought status suggests potential selling pressure. If the price encounters resistance at current levels, it could pull back to the $56,414 support level (50-day SMA).

Pepe Unchained (PEPU) Presale Gains Traction

As Bitcoin prices soar, investors are showing interest in Pepe Unchained (PEPU), a new PEPE upgrade. According to 99Bitcoins, PEPU is anticipated to experience significant growth after its launch.

Pepe Unchained Raises over $13 Million

Pepe Unchained has emerged as one of the top token presales of 2024, surpassing the $13 million mark in funds raised. The Ethereum Layer 2 project features a blockchain explorer and a decentralized exchange (DEX).

Token holders can benefit from the platform's staking system, offering an annual percentage yield (APY) of 156%. Individuals can purchase $PEPU tokens for $0.0096897 from the official website using ETH, USDT, or a bank card.