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The Bitcoin price edged up 1% in the last 24 hours to trade at $96,529 as of 3:20 a.m. EST on a 44% pump in trading volume to $42 billion.
This rise in the BTC price comes as Bitcoin celebrates the 16th anniversary of its Genesis Block on January 3, 2025, a cornerstone of the cryptocurrency revolution.
Created by the enigmatic Satoshi Nakamoto, the Genesis Block was mined on January 3, 2009, introducing the first 50 Bitcoins and embedding the historic message: “The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks.”
On this day in 2009, Satoshi Nakamoto mined the Bitcoin Genesis Block, also known as Block 0.
A historic moment marking the beginning of Bitcoin. 🟠 pic.twitter.com/ORZJ25EXRY
— Trezor (@Trezor) January 3, 2025
Interestingly, the second block wasn’t mined until six days later, fueling speculation that Satoshi may have echoed the six days of creation in the Book of Genesis.
Over the years, Bitcoin has evolved significantly, growing into a global asset with a market value exceeding $1.91 trillion, ranking as the 10th largest asset globally, according to CompaniesMarketCap.
With the next halving event approaching in April 2028, the legacy of the Genesis Block remains a powerful symbol of Bitcoin’s revolutionary impact and enduring journey.
Bitcoin Price May Continue The Uptrend
The chart for Bitcoin/USDT on a 1-day timeframe shows a bullish structure with key levels and indicators supporting the sentiment. The price is currently trading at $96,440 near the 50-day moving average (MA50) of $96,913.93. This level is crucial, as it acts as a potential pivot point for either a continuation of the upward trend or a bearish retracement.
Additionally, the 200-day simple moving average (SMA200) at $71,970.02 lies significantly below the current price, affirming a long-term bullish trend. A prior golden cross, where the SMA50 crossed above the MA200, further supports this positive trend.
Key support levels are visible at $90,000 and $77,500. These zones are expected to provide a foundation for potential bullish reversals if the price experiences short-term pullbacks. The $90,000 support is a critical area where buyers may step in to defend the trend.
BTCUSDT Analysis Source: Tradingview
A bullish breakout above the SMA50 could lead to a rally toward the projected target price range of $120,000 to $130,000. This aligns with historical price action and Fibonacci extensions, which often guide traders in identifying likely price objectives.
The RSI (Relative Strength Index) currently stands at 50.37, indicating neutral momentum. This suggests that the market could move in either direction depending on broader sentiment and trading volume. However, the RSI line crossing above its moving average hints at a potential bullish push.
Bitcoin’s bullish structure remains intact as long as it holds above $90,000. A breakout above the MA50 would signal continued upward momentum, with the medium-term target range set at $120,000 to $130,000. Traders should watch for price action around the $90,000 support and $97,000 resistance to confirm the next significant move.
However, failure to hold the $90,000 level could lead to a retest of the MA200 at $71,970.02, which would risk the bullish scenario.
Best Wallet Presale Soars Past $6.2 Million
As the Bitcoin price continues its upward climb, excitement is growing around the Best Wallet (BEST) presale, which has already raised over $6.2 million.
An analyst from the popular YouTube channel 99Bitcoins, with over 719k subscribers, says BEST is a potential game-changer.
Best Wallet is an all-in-one platform for accessing the Web3 ecosystem. It combines a decentralized exchange (DEX), wallet functionality, and a suite of tools designed to simplify digital asset management.
But one of Best Wallet’s standout features is its “Upcoming Tokens” section, which enables users to discover promising tokens before they hit the market.
🚨 Meme Index is live in Upcoming Tokens! 🚨@memecoin_index presents the first-ever diversified meme coin platform, powered by $MEMEX, giving unparalleled access to the $120 billion meme coin market.
Meme Index offers exclusive access to indexes that cater to every risk… pic.twitter.com/GsiBBuZOzX
— Best Wallet (@BestWalletHQ) December 27, 2024
The feature already has a good track record. Upcoming Tokens flagged Catslap (SLAP) to BEST wallet holders and it surged more than 3,500% for those who bought early.
Among the highlighted tokens now is the Meme Index (MEMEX), which has already secured over $1.5 million in presale funding.
Investors can also stake their BEST tokens, earning a remarkable 331% annual return.
Currently, BEST tokens are priced at just $0.02345. Buy before a price hike in less than 20 hours to secure the best deal.
Visit BEST here.
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