Prime

Bitcoin

Silk Road

April

Million

The Bitcoin price tumbled 1% in the last 24 hours <a href="https://www.geckoterminal.com/eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed" rel="noopener noreferrer nofollow">to trade at $61,127</a> as of 00:57 a.m. EST on trading volume that plunged 20% to $21 billion.
This comes as the US government transferred 3,940 BTC worth $240 million to a Coinbase Prime Address. The BTC is said to have been originally forfeited from Silk Road vendor and narcotics dealer Banmeet Singh in a trial that took place in January.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Update: US Government Sends $240M BTC to Coinbase Prime
 The US Government just moved 3,940 BTC ($240M) to Coinbase Prime.
 This BTC was originally seized from narcotics trafficker Banmeet Singh, and forfeited at trial in January 2024.
 Transaction: <a href="https://t.co/hZ1CwqWCmF" rel="noopener noreferrer nofollow">https://t.co/hZ1CwqWCmF</a> <a href="https://t.co/9t6k8Wdizq" rel="noopener noreferrer nofollow">pic.twitter.com/9t6k8Wdizq</a>
 — Arkham (@ArkhamIntel) <a href="https://twitter.com/ArkhamIntel/status/1806012299494273149?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 26, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The wallet linked to US authorities moved $2 billion in BTC on April 2, which sparked speculation of a selloff at the time. This is the reason why, after this recent transaction, the market slid only modestly, along with BTC.
Still, BTC dropped below the $62,000 critical support, according to data from <a href="https://www.geckoterminal.com/eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed" rel="noopener noreferrer nofollow">GeckoTerminal</a>.
<h2 id="span-style-font-weight-400-bitcoin-price-set-for-a-bullish-trend-reversal-over-the-bullish-pennant-span">Bitcoin Price Set For A Bullish Trend Reversal Over The Bullish Pennant</h2>
<figure id="attachment_540735" aria-describedby="caption-attachment-540735" style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="size-full wp-image-540735" src="https://insidebitcoins.com/wp-content/uploads/2024/06/WBTC_2024-06-27_07-57-05-1.png" alt="Bitcoin Price Chart Analysis Source: GeckoTerminal.com" width="1113" height="488" srcset="https://insidebitcoins.com/wp-content/uploads/2024/06/WBTC_2024-06-27_07-57-05-1.png 1113w, https://insidebitcoins.com/wp-content/uploads/2024/06/WBTC_2024-06-27_07-57-05-1-300x132.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/06/WBTC_2024-06-27_07-57-05-1-1024x449.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/06/WBTC_2024-06-27_07-57-05-1-768x337.png 768w" sizes="(max-width: 1113px) 100vw, 1113px">
 <figcaption id="caption-attachment-540735" class="wp-caption-text">
 BTCUSD Chart Analysis Source: GeckoTerminal.com
 </figcaption>
</figure>
The Bitcoin price is gearing up for a major price reversal over the lower boundary of the bullish pennant pattern. The BTC price trades well above the 200-day Simple Moving Average (SMA), which is a confirmation of the long-term bullish run over the pennant.
Moreover, the 50-day SMA acts as the immediate resistance level around $66,469.
The Relative Strength Index (RSI) also coincides with the slight retrace of the price of Bitcoins, as the RSI drops towards the 30-oversold level, currently at 32, an indication of intense selling pressure.
According to the BTC price analysis on the 1-day chart, BTC has been on a downtrend in recent days. If the bears sustain the bearish trend, the price of Bitcoin may breach the $60,000 support zone, as the bulls retreat to the $57,818 support level, which coincides with the 200-day SMA.
Conversely, the RSI is already trading within the oversold level, which may be a signal for the bulls to prompt a buyback campaign. In such a scenario, the bulls may stage a bullish trend reversal over the pennant, targeting $90,000.
Meanwhile, as the BTC price bulls search for support to push the crypto up, investors might want to consider pivoting to the learn-to-earn platform <a href="https://insidebitcoins.com/visit/99bitcoins" rel="noopener noreferrer nofollow">99Bitcoins (99BTC)</a>.
According to Jacob Bury, a prominent crypto YouTuber, 99BTC has the potential to turn $1K into $10K after launch.
<iframe title="New 10x Potential Crypto Presale 99Bitcoins - Flip $1k into $10k?!" width="640" height="360" src="https://www.youtube.com/embed/G2trqq3KNYE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
<h2 id="span-style-font-weight-400-99bitcoins-presale-hurtles-past-2-3-million-best-crypto-to-buy-now-span">99Bitcoins Presale Hurtles Past $2.3 Million: Best Crypto To Buy Now?</h2>
The 99Bitcoins website is poised for a major relaunch in the third quarter of this year amid an explosive presale for the new 99BTC token.
99Bitcoins is an educational platform with over 700,000 subscribers on its YouTube channel and more than 2 million people registered for the website’s courses.
The platform aims to enhance the learning experience by gamifying Bitcoin education. Users complete challenges and lessons to earn higher rankings and earn $99BTC as rewards.
The L2E narrative could be the next big crypto thing, and already 99BTC has amassed over $2.3 million in its presale.
99Bitcoins also integrates with BRC-20, which allows users to easily build dApps on the Bitcoin network.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Introducing $99BTC on BRC-20! 🎓
 Since 2013, <a href="https://twitter.com/hashtag/99Bitcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#99Bitcoins</a> has been the go-to resource for learning about <a href="https://twitter.com/hashtag/Cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cryptocurrency</a>.
 We're launching a platform that enables the building of <a href="https://twitter.com/hashtag/dApps?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#dApps</a> on top of the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> network!💡<a href="https://twitter.com/hashtag/LearnToEarn?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#LearnToEarn</a> rewards users on the Bitcoin blockchain.🙌
 — 99Bitcoins (@99BitcoinsHQ) <a href="https://twitter.com/99BitcoinsHQ/status/1785308220677853254?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 30, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
As a token holder, you also have the opportunity to earn passively through <a href="https://insidebitcoins.com/visit/99bitcoins" rel="noopener noreferrer nofollow">the platform’s staking system</a>, where you can stake $99BTC for an impressive 736% annual percentage yield (APY).
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 How many of these bad boys will <a href="https://twitter.com/PeterSchiff?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@PeterSchiff</a> be popping? 💊<a href="https://twitter.com/hashtag/99Bitcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#99Bitcoins</a> <a href="https://twitter.com/hashtag/CryptoCurrency?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CryptoCurrency</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> <a href="https://t.co/yIEeuGsSdx" rel="noopener noreferrer nofollow">pic.twitter.com/yIEeuGsSdx</a>
 — 99Bitcoins (@99BitcoinsHQ) <a href="https://twitter.com/99BitcoinsHQ/status/1794684946453262569?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 26, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
You can buy 99BTC now for $0.00111. With a price hike coming in about five days, don’t procrastinate for too long and miss locking in the best deal.
To join the presale, <a href="https://insidebitcoins.com/visit/99bitcoins" rel="noopener noreferrer nofollow">you can buy $99BTC from the official website here</a>. You have the option of buying the tokens using ETH, USDT, or a bank card.
<h2 id="span-style-font-weight-400-related-news-span">Related News</h2>
<ul>
 <li style="font-weight: 400;"><a href="https://www.linkedin.com/pulse/where-buy-presale-crypto-unlock-exclusive-early-now-calsona-q7xie" rel="noopener noreferrer nofollow">Where to Buy Presale Crypto: Unlock Exclusive Early Investments Now! 🎉🎉</a></li>
 <li style="font-weight: 400;"><a href="https://www.linkedin.com/pulse/upcoming-crypto-presales-unlock-early-investment-calsona-plu5e" rel="noopener noreferrer nofollow">Upcoming Crypto Presales: Unlock Early Investment Opportunities! 🚀🌟</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/buy-cryptocurrency/make-money-with-cryptocurrency/" rel="noopener noreferrer nofollow">How to Make Money with Cryptocurrency – 8 Best Ways</a></li>
</ul>

Bitcoin Price Prediction: As US Government Sends $240 Million BTC To Coinbase, This Learn-To-Earn Token Races Towards $3 Million

Table of Contents

Inside Bitcoins

Other articles published on Jun 27, 2024

Satoshi Era Miner Wakes Up After 14 Years & Moves Bitcoin To Binance

Potential Regulation of Bitcoin Wallets in Denmark Raises Concerns

Breaking: Custodia Bank Files Appeal Stating Fed’s Law Violation & Dual Banking System

Shiba Inu’s Critical Resistance Breakout, Solana ETF Hype, Furrever Token’s Referral Bonus: Ultim...

Altcoin Season Nears: 3 Best Cryptos To Invest In July – Ethereum, Notcoin, and Angry Pepe Fork

Bitcoin Price Prediction: Historical Data Hints BTC Price To See Double Gains in July

Join our free newsletter for daily crypto updates!