Crypto News: Bitcoin Falls to $102,000 as BTC Bull Token Raises $7.2 Million

Crypto investors need to have a pretty thick skin at the moment. The crypto market is currently a roller coaster ride – a very unpleasant one. June is living up to its reputation as a "bad crypto month." In May, Bitcoin reached a new all-time high of $111,970. But the highs came to an end shortly thereafter. Almost four weeks later, BTC is trading at around $102,000, and the total market capitalization has fallen by almost 2 percent in the last 24 hours. The Fear and Greed Index fell from 69 to 48 within four weeks. While it is still at "neutral," it is significantly closer to fear than it was a week ago.

There's no single reason why Bitcoin is falling. Rather, several factors are converging. First, there's the US President's tariff chaos. Then there's the escalation in the Middle East and the ongoing war in Ukraine. The markets are unsettled and reacting accordingly. In times like these, investors prefer to put their money into "safe investments" like gold or foreign currencies, which are considered relatively crisis-proof. Highly volatile cryptocurrencies are not among them. Accordingly, capital is flowing out.

Another reason was the failure to hold a key technical level at USD 104,073. This triggered many automatic sell orders – a total of approximately USD 250 million in crypto positions were forcibly liquidated. In addition, the Fed continues to keep interest rates stable at a high level, which is also prompting investors to withdraw capital and invest in government bonds, for example.

However, this does not mean that there will probably never be another crypto or Bitcoin bull run.

In 2022, after the Terra/Luna crash and the bankruptcy of the FTX crypto exchange, crypto doomsayers were already circling furiously again. But the digital assets fought their way back, and in January 2024, Bitcoin reached its then all-time high. Moreover, the starting point is completely different. Thanks to the crypto spot ETF, cryptocurrencies are now firmly anchored in the mainstream financial market. So, the question is not if the next bull run will come, but when. Investors are already positioning themselves. BTC Bull Token managed to raise over $7.2 million in capital with its presale.

What's special about this meme coin project? BTCBULL rewards its holders with Bitcoin airdrops every time BTC breaks certain price milestones. The first one is at a Bitcoin price of $150,000. After that, it continues in $50,000 increments. All you have to do is hold BTCBULL. Additionally, the team has built a deflationary mechanism into the coin, which is also tied to the Bitcoin price. Staking also gives early bird investors the opportunity to passively increase their BTCBULL holdings in advance. Currently, 1.8 billion tokens are locked in the contract, and the APY is 56%.

BTCBULL is currently available for pre-sale, but it's nearing completion. To become an early bird investor, simply connect a compatible wallet to the project's website. One BTCBULL costs $0.002575. Payments can be made with ETH or USDT. Credit card payments are also accepted.

Click here for the BTC Bull Token Presale

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