BTC Price Dips 1% as a Whale Bets $368M Against Bitcoin Ahead of FOMC Meeting

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The Bitcoin price dropped 1% in the last 24 hours to trade at $83,388 as of 3.30 a.m. EST on trading volume that skyrocketed 95% to $24.41 billion.

The BTC price drop came around the same time a whale decided to bet $368 million with 40x leverage on a Bitcoin price decline ahead of the upcoming Federal Open Market Committee (FOMO) meeting, scheduled on March 19.

However, the arrival of Monday did shake things up a bit for the BTC price, causing fluctuations between $84k and $82k, with the price currently trading between these levels.

Bitcoin Price Prediction

With the Bitcoin price seemingly finding a strong support at $82k, its price was still limited by the resistance at $85k. The last 24 hours allowed the coin to test both of these levels, as BTC saw strong activity on the last day. Its Bollinger Bands reacted to this, seeing a massive widening after being quite narrow in comparison for most of the weekend.

The price has been fluctuating from the upper band to the lower one and back again, never sitting still for long, which is typically considered to be a bullish signal.

15-minute chart for BTC/USDT (Source: TradingView)

A similar restlessness can be spotted when it comes to the project’s Relative Strength Index (RSI), which also went from the oversold zone to the overbought area as traders continued the cycle of buying the dip and selling high, resulting in strong fluctuations seen during the last 24 hours.

With a whale shorting a massive amount of BTC, the coin could still see a strong dip in the hours or days to come, but for now, it could offer an opportunity for day traders to profit from its sharp movements.

Promising Alternative To Bitcoin

As for those who find Bitcoin too volatile right now, an alternative like BTC Bull Token (BTCBULL) might be a better option. This is a new project, currently still in presale, which calls itself Bitcoin’s official meme coin.

Its goal is to help push Bitcoin’s price up, towards a series of major goals, but also to create earning opportunities for its own community members. Specifically, whenever BTC surges past one of the goals listed on the project’s website — such as $150k, $200k, $250k, and so on, all the way to $1 million per BTC — BTC Bull Token will airdrop free BTC to its token holders.

With Bitcoin’s price sitting above $83k right now, it is much more affordable to invest in BTCBULL, which costs only $0.002415 while it is in ICO. Furthermore, BTC will have to hit $150k to trigger the first airdrop, meaning that its price will be nearly twice as high as it is right now at the time it happens.

Along the way, BTCBULL itself might grow too, as the project has introduced a burning mechanism that will remove BTCBULL tokens from the supply permanently whenever BTC grows by $25k, starting at $125k. In other words, the two projects are tightly connected to one another and could help each other grow in years to come.

Right now, however, is your best opportunity to buy BTCBULL, while it is still in presale. Many crypto investors have already recognized this as an opportunity, pouring over $3.72 million into the project in the last month or so.

This interest attracted the attention of crypto experts such as Danjo Capital Master — a crypto YouTuber with over 841k subscribers, who speculated that BTCBULL might have 50x potential.

Interested investors will want to act fast, because BTCBULL will undergo a presale price increase in less than 2 days.

Visit the BTC Bull Token website.

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