Bitcoin Price Prediction: Andrew Tate Invests $100M Bitcoin Price Hits Low Over 65K Supply
Bitcoin is currently trading just above $65,000, having experienced a 1.25% retracement after its recent gains. This upward trend was mainly driven by weak US CPI data, the dovish stance of the Federal Reserve and the breakout of the symmetrical triangle pattern.
Despite this slight bearish pullback, Bitcoin price predictions remain bullish, especially with Andrew Tate announcing a $100 million investment in Bitcoin and the supply of Bitcoin on exchanges decreasing.
Bitcoin exchange supply hits new low, market bullish
Bitcoin (BTC) supply on centralized exchanges (CEX) has dropped to a new low following strong market activity over the past 48 hours. According to data from on-chain analytics firm Glassnode, the current Bitcoin supply on exchanges stands at 1,728,782 BTC, reflecting a significant reduction in supply as bullish sentiment grows. In the past 24 hours, 23,654 BTC were withdrawn from exchanges, with weekly outflows reaching 19,859 BTC. Monthly traffic also decreased, only 9,509 BTC. This decrease indicates increasing bullish pressure on the market as traders move assets away from exchanges.
key point:
Binance saw 7,155 BTC outflows, while Coinbase Pro recorded 16,075 BTC outflows. The massive migration from exchanges indicates long-term holding and bullish sentiment in the market. Positive CPI data and new institutional spot ETF revelations have driven recent market activity.
This week, several traditional financial firms disclosed exposure to spot Bitcoin ETFs, further fueling the price increase.
Andrew Tate plans to invest $100 million in Bitcoin
British-American social media personality and former professional kickboxer Andrew Tate has announced plans to invest heavily in Bitcoin, voicing his dissatisfaction with traditional banks and their practices.
"I'm about to leave fiat altogether," Tate declared. "I'm fed up with the banks and their scams."
Tate shared his plans on social media platform X, stating that he plans to ditch fiat currencies and invest $100 million in Bitcoin.
He highlighted his frustrations with the banking system and was confident in his decision, even planning to show proof of his investment later.
key point:
Tate plans to transfer $100 million from fiat currency to Bitcoin. He criticized the bank, calling its actions a scam. Despite some skepticism among X users, Tate remains committed to his cryptocurrency investment.
Andrew Tate, known for his controversial online persona and previous career as a kickboxer, has been involved in cryptocurrency-related news before. Romanian authorities have seized significant assets, including Bitcoin. In a video produced by a criminal lawyer, Tate promoted Bitcoin for tax avoidance and hinted at launching his own cryptocurrency. He has also been involved in the meme stock movement, and although his net worth is approximately $11 million, he invested $6 million in Gamestop.
Additionally, the 50-day exponential moving average (EMA) on the four-hour chart is likely to support BTC around $63,150, increasing the chances of a bullish rebound from this level. However, increased selling pressure could lead to a bearish crossover below the 50-day EMA, with $61,500 or $61,200 potentially acting as further support.
Finally, the Relative Strength Index (RSI) has moved out of the overbought zone and currently stands at around 62, still in bullish territory.
Current Trend: We need to focus on the two key levels of $64,750 and $63,300, which will be crucial for buyers. Above these levels, the likelihood of a buying trend remains strong.
Gain early advantage with 99Bitcoins pre-sale 99Bitcoins, a leader in digital education, is changing the way users learn about cryptocurrency through its "Learn and Earn" platform. Participants can earn $99 BTC tokens while improving their knowledge, effectively growing their expertise and investment portfolio.
The current $99 BTC token pre-sale has attracted the attention of savvy investors, providing early participants with an attractive entry price.
Exclusive Early Access to 99Bitcoins This presale offers early investors a unique opportunity to acquire $99BTC tokens at a competitive price of $0.00103 each. These tokens not only serve as a reward mechanism, but also provide access to premium content and other privileges within the community.
Hurry—Limited-Time Offer The presale has raised $1,284,373 so far and is on track to reach its goal of $2,036,443.
With just over three days left until the next price stage, this is a crucial time to invest $99BTC and start benefiting from immediate staking opportunities.
Learn about 99Bitcoins: https://cn.cryptonews.com/ext/99bitcoins-cn/
