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The Bitcoin price has slumped 1.5% in the last 24 hours to trade at $95,883 as of 7:20 a.m . EST on a 17% pump in trading volume to $54 billion.
The drop in the BTC price comes despite Japanese investment firm Metaplanet making its largest-ever Bitcoin purchase on December 23, acquiring 619.7 BTC for nearly $60 million at around $96,000 per Bitcoin. This purchase nearly quadrupled its previous record of 159.7 BTC in October.
🇯🇵 Japanese public company Metaplanet acquires 619.7 #Bitcoin for ¥9.5 billion. The global race to accumulate continues.
The best part? This isn’t competition, it’s collaboration. pic.twitter.com/4K3cR1Ad5B
— Michael Saylor ⚡ Founder of MicroStrategy (Parody) (@Saylorsatsire) December 23, 2024
Metaplanet, often called “Asia’s MicroStrategy,” now holds a total of 1,762 BTC, worth about $168 million, with an average purchase price of $75,600 per BTC.
The firm’s Bitcoin holdings rank 12th among public companies, just behind Semler Scientific. Additionally, Metaplanet reported a 310% BTC yield from October 1 to December 23, a significant rise from the 41.7% yield in the previous quarter.
Bitcoin Price Dips, Consolidation Hints at $100K Retest
Bitcoin is currently trading at $95,826, showing a slight dip of $540.37 (-0.57%). This small pullback might be part of a consolidation phase, potentially setting up a more significant move soon. Key support lies at $93,428, aligning with the steadily rising 50-day Moving Average (SMA), which has been acting as a reliable dynamic support.
Below that, the 200-day SMA at $70,444 offers another solid safety net, highlighting Bitcoin’s strong long-term bullish trend. Adding to this positive outlook, the Golden Cross in mid-November, where the 50-day SMA crossed above the 200-day SMA, is often seen as a sign of upcoming sustained rallies.
BTCUSD Analysis Source Tradingview
The Relative Strength Index (RSI) is at 57.95, indicating moderate bullish energy with room to climb before hitting overbought levels above 70. The RSI signal line near 46.24 hints at a possible upward crossover, pointing to a bullish reversal soon.
The chart also shows a rounded bottom pattern from September to October, indicating a shift from bearish to bullish sentiment. This could mark a critical reversal zone for Bitcoin to retest the $100,000 psychological level.
If it clears this hurdle, the next target could be $120,000 in the medium term. However, if Bitcoin falls below the $93,428 support, it could see a deeper correction, with the 200-day SMA at $70,444 likely acting as the next major support.
Flockerz Presale Soars Past $8 Million
As investors sell Bitcoin in the short term, they are still buying a meme coin called Flockerz (FLOCK), which has just surged past $7.6 million in funds raised in its presale, which has less than 30 days left.
An analyst on the 99 Bitcoins YouTube channel, with over 719k subscribers, ranks FLOCK among the top 3 ICOs and says it has the potential to skyrocket 100X once it launches.
Flockerz calls itself ”The People’s Meme Coin” and it’s turning heads with its innovative Vote-to-Earn (V2E) system.
Unike typical meme coins controlled by a minority of insiders, Flockerz actively involves its community in shaping the project’s future.
Holders who vote on key decisions don’t just contribute, they earn FLOCK tokens as rewards. This approach goes beyond simple governance, transforming participation into a way to earn income while giving the community real control over the project’s direction.
Sometimes the flock can get a little mischievous 🤫
It’s all in good fun! 💙🐦 pic.twitter.com/AcOqls7X7b
— Flockerz (@FlockerzToken) December 23, 2024
Flockerz also boasts a huge 364% annual staking return, providing holders with another way to earn income. With opportunities to earn through both voting and staking, Flockerz sets itself apart in the meme coin space, offering real value in a competitive market.
The FLOCK token is currently priced at $0.006504 and can be purchased using ETH, USDT, BNB, or a bank card.
Visit FLOCK here.
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