Bitcoin Price Clinging To Support After 6% Drop, BEST Presale Surges Past $9M

The Bitcoin price plunged over 6% in the last 24 hours to trade at $93,632.92 as of 10:00 p.m. EST as investors offload their holdings in the crypto on the market.

The Bitcoin price dropped over 6% in the last 24 hours to trade at $93,632.92 as of 10:00 p.m. EST as investors offload their holdings in the crypto on the market.

The drop in the BTC price comes after US President Donald Trump signed an executive order imposing 25% tariffs on imports from Mexico and Canada, and a 10% duty on China, which will come into effect on Tuesday.

Bitcoin Price Clinging To Support

4-hour chart for BTC/USDT (Source: TradingView)

The Bitcoin price plunged below the $98,063.55 support in the last 24 hours and is now resting on the next crucial support at $93,904.24. BTC already broke below this technical mark in the last couple of hours, but buyers are trying to defend the level. Should bears overpower bulls in the coming 12 hours, the Bitcoin price could end up falling to as low as $89,135.77.

On the other hand, BTC closing the next 2 4-hour candles above $93,904.24 might lead to a rebound. In this alternative scenario, the Bitcoin price could end up trying to reclaim the $98,063.55 support. Continued pressure from buyers if the leading crypto recovers to back above this point might then result in a rise to as high as $102,964.28 in the short term.

Technicals Suggest The Bitcoin Price Will Keep Falling

From a technical standpoint, indicators on BTC’s 4-hour chart warn the Bitcoin price might drop even more through the course of today. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flashing bearish.

The MACD line is positioned below the MACD Signal line after the two technical indicators crossed over the weekend. This alignment is often interpreted as a sign that an asset has entered a negative trend. In recent hours, the gap between the two lines has also started to grow, which might suggest that BTC’s bearish momentum shows no signs of cooling off yet.

Meanwhile, the RSI shows that BTC is in oversold territory, with the current value well below 30 at 18. Low RSI values show a crypto’s upside potential is greater than its downside potential and are therefore usually seen as a buy signal.

However, it is not unusual for RSI readings to remain low for a sustained period of time when a crypto is dumping. The negative slope of the RSI line warns this might be the case in this instance. As sellers continue to overpower buyers, it seems BTC’s RSI readings might stay low for the next couple of hours and the leading crypto’s price will keep dropping.

As the Bitcoin price remains at the mercy of sellers, investors are turning to the Best Wallet (BEST) presale to wait out the storm. According to YouTuber Crypto Gains, who has over 141K subscribers, BEST has the potential to soar 10X after launch.

The Only Wallet Crypto Investors Will Ever Need

Best Wallet is the ultimate digital asset custody solution, and gives investors all of the features they need to manage, grow and secure their crypto holdings all within a single application. In addition to offering support for more than 60 blockchains and their native tokens, Best Wallet also allows users to import all of their wallets from across the Web3 ecosystem.

With the ability to keep an eye on all of their holdings across different wallets, users can then start to maximize their portfolios’ earning and growth potential through the array of features that Best Wallet has to offer.

For investors who want to grow their holdings passively, there is an in-app staking solution that allows users to start multiple staking sessions simultaneously.

Investors who want to grow their funds actively can take advantage of the seamless swap solution within the Best Wallet app, and switch between cryptos at a moment’s notice to capitalize on opportunities that present themselves in the market.

Best Wallet users won’t even have to dive deep into social platforms and forums to find potential crypto gems, because the app also offers an “Upcoming Tokens” feature, which flags high-potential cryptos that are still in their early stages.

This feature has already identified Catslap (SLAP) and Pepe Unchained (PEPU), which have both gone on to print massive gains.

Investors Have Already Pumped $9 Million Into BEST Presale

Investors have already pumped over $9 million into BEST’s ongoing presale. This could be due to the additional benefits that BEST holders gain access to, such as lower transaction costs, higher staking rewards and early access to new projects.

Selling at $0.02385, BEST can be bought through a widget embedded on its official website using either crypto or bank