Bitcoin Cost Estimation: Michael Saylor Suggests Additional BTC Purchase Strategy as Investors Flock Towards This Memecoin ICO Providing Complimentary Bitcoin

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The Bitcoin price took a nose dive by 1% in the past 24 hours, settling at $94,336.83 as per the data at 9:39 p.m. EST. As investors start pulling back from the leading crypto,

Even though the Bitcoin price is on a downward spiral, Michael Saylor, the co-founder of Strategy, has hinted at a potential Bitcoin purchase following the company's Q1 earnings call. On May 4, 2025, Saylor tweeted a chart from SaylorTracker, which previously has been an indicator of Bitcoin buys.

Bitcoin Stuck Below a Crucial Resistance

The Bitcoin price is currently struggling to break through the resistance level at $98,371.74. If Bitcoin manages to surpass this technical hurdle, it could aim for the subsequent barrier at $107,963.22. However, a rejection from the $98,371.74 resistance might lead to a retest of the nearest support level at $88,023.04. A continued push from sellers could potentially drive the price down as low as $77,926.75.

The Grip of the Bears

From a technical perspective, the indicators on the daily chart show the Bitcoin price might drop further in the coming days. Specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicate that bearish forces are gradually taking control. The MACD line is attempting to dip below the MACD Signal line, and if it does, it could signal that the Bitcoin price has entered a short to medium term bearish trend. Furthermore, the RSI has plummeted below its Simple Moving Average (SMA) on the daily chart, suggesting that sellers are starting to dominate the buying activity on the chart. Although the current RSI reading is still above 50, indicating the market has a bullish inclination, the negative slope of the RSI line indicates the indicator might fall below the 50 mark shortly. If this happens, bears might be able to overpower bulls and drive the Bitcoin price down more.

While Bitcoin technicals exhibit bearish signs, investors are flocking towards the presale for a fresh meme coin called BTC Bull Token (BTCBULL). The popular YouTube channel 99Bitcoins, boasting over 725K subscribers, believes the crypto has the potential to surge 10X after its launch.

BTC Bull Token: A Meme Coin That Showers Bitcoin

BTC Bull Token is a meme coin inspired by Bitcoin, based on the belief that the largest crypto by market cap will reach beyond the $1 million mark. When Bitcoin's price rises to new heights, BTCBULL will reward its token holders with Bitcoin airdrops and BTCBULL token burns at certain price milestones.

The first Bitcoin airdrop will take place when Bitcoin reaches $150K for the first time. Every $50K increase in Bitcoin's price will trigger another airdrop. The token burns will start earlier, with the first set to occur once Bitcoin reaches $125K. Each subsequent $25K increase will lead to another token burn. The shrinking token supply coupled with increased demand from buyers aiming for the Bitcoin airdrops could result in a positive supply and demand ratio for the project, leading to a potential 10X rally, according to 99Bitcoins.

Investors Rush to Buy BTCBULL at Presale Rates

Investors are already lining up to purchase BTC Bull Token, pouring over $5.3 million into the project's ICO so far. This buying frenzy is likely to continue, given the 77% Annual Percentage Yield (APY) available to presale buyers who stake their tokens at this early stage.

Interested investors can snag some BTCBULL via the simple buy widget embedded on the project's website. The meme coin is available for purchase using crypto or bank card, and interested buyers can navigate to the staking page on the website to put their tokens to work. However, investors who want the best deal will have to act fast because BTCBULL's price will undergo multiple staged increases as the ICO progresses. The next price increase will be in about 31 hours.

Visit the BTC Bull Token website.

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Despite the ongoing downtrend in Bitcoin price, investors are eagerly participating in the presale for the meme coin BTC Bull Token (BTCBULL).
The Bitcoin price chart indicates that the digital currency is struggling to break through the resistance level at $98,371.74.
Michael Saylor, the co-founder of Strategy, hinted at a potential Bitcoin purchase in a tweet featuring a chart from SaylorTracker, despite the cryptocurrency's decrease by 1% over the past 24 hours.
The BTC Bull Token (BTCBULL) meme coin is based on the belief that Bitcoin will reach beyond the $1 million mark and offers airdrops and token burns to its holders when certain price milestones are reached.
The bearish technical indicators suggest that the Bitcoin price may drop further, with the RSI reading already below its Simple Moving Average (SMA) on the daily chart.
The Bitcoin price is currently hovering around $94,336.83, and investors are following the latest price movements and relevant news on social-media channels like Telegram for updates on the cryptosphere, including related finance, business, technology, entertainment, and general-news topics.