The Bitcoin price has risen 3% in the last 24 hours to trade at $86,677

This jump in the BTC price follows MicroStrategy's recent capital raise of $711 million through its preferred stock offering

The Bitcoin price has risen by 3% in the last 24 hours to reach $86,677 by 12:00 a.m. EST on Thursday, July 18. This follows a 72% pump in trading volume to $16.5 billion.

This jump in the BTC price comes after MicroStrategy (NASDAQ:MSTR) disclosed a recent capital raise of $711 million through its preferred stock offering, with co-founder Michael Saylor hinting at another Bitcoin purchase.

Earlier this month, MicroStrategy acquired 130 BTC for $10.7 million, bringing its total holdings to 499,226 BTC.

Needs more Orange. pic.twitter.com/BRyWs1ey80

— Michael Saylor⚡️ (@saylor) March 23, 2025

Saylor remains a strong advocate for Bitcoin adoption, encouraging the US government to acquire 25% of Bitcoin’s total supply by 2035. He also proposed a comprehensive digital asset strategy for the US.

Despite market volatility, MicroStrategy’s Bitcoin investment remains in profit, with over $9.3 billion in unrealized gains.

Bitcoin Price Rebounds On A Strong Support Zone – Can The Bulls Sustain The Momentum?

The BTC/USDT on the 1-day timeframe shows that Bitcoin is currently consolidating after facing strong resistance around the $100,000 price point, leading to multiple rejections.

On the other hand, there is a strong support level at around $80,000, where the price has bounced on multiple occasions, indicating seller exhaustion at this price floor.

BTCUSDT Analysis Source: Tradingview

Moreover, the chart highlights a Fair Value Gap (FVG), which is an imbalance that usually acts as a magnet for price action.

If the bulls can maintain the momentum and push through the next key resistance at $90,000, then traders can expect a move towards this FVG region.

The RSI (Relative Strength Index) is currently at 50.79, indicating neutral momentum. After dipping below 45, which signals temporary oversold conditions, the RSI has shown some recovery, suggesting increasing buying interest.

If MicroStrategy follows through with another purchase, we could see Bitcoin break through the $90,000 resistance and approach the psychologically important $100,000 level.

On the downside, the $80,000 support remains a crucial level to keep an eye on.

With the current market dynamics and institutional buying interest, the short-term outlook for Bitcoin appears bullish, pending confirmation of the anticipated upward breakout.

BTC Bull Token (BTCBULL) Presale Closes On $4 Million – Best Crypto To Buy Now?

As the Bitcoin price continues its bullish momentum, investors looking to position themselves for potential gains might consider BTC Bull Token (BTCBULL) as a promising option.

This Bitcoin-themed meme coin has already raised over $3.9 million in its ongoing presale, attracting significant attention.

With its unique approach and Bitcoin’s upward trajectory, BTC Bull Token stands out as a compelling opportunity in the crypto space.

BTC Bull Token is designed to celebrate and support Bitcoin’s journey to $1 million per coin. It offers unique incentives to holders, including Bitcoin airdrops and BTCBULL token burns at key price milestones.

BTCBULL has breached the system. Bitcoin is here to stay. ⚡ $CTX $PRQ $SPA https://t.co/fG84R8Z70O

— Nadeem632 (@Nadeem6321) February 24, 2025

Token holders using Best Wallet will receive free Bitcoin airdrops starting when Bitcoin reaches $150K, with additional airdrops for every $50K increase.

Additionally, BTCBULL will conduct token burns, starting at $125K and continuing at every $50K milestone. These burns will permanently reduce the token supply, increasing scarcity and potentially driving up its value.

The combination of airdrops and burns creates a dynamic that could attract further interest and investment in BTC Bull Token.

Crypto analyst and YouTuber Alessandro De Crypto, boasting 14.4K subscribers, has shown his support for BTCBULL by revealing his own investment and predicting remarkable gains for the meme coin.

Further enhancing the appeal of BTC Bull Token, investors can also earn a 105% annual return when they stake their BTCBULL tokens.

Interested investors can purchase the meme coin via the buy widget embedded on the project’s website using either crypto or bank card.

Currently selling for $0.002425, anyone looking to buy at the best rate will want to act fast before the next presale hike scheduled in just over 25 hours.