Bitcoin Price Prediction: As New FBI Director Kash Patel Holds $115k Worth Of BTC, Does He Know This ICO Will Give Him More For Free?

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The Bitcoin price edged up over 1% in the last 24 hours to trade at $98,341 as of 03:42 a.m. EST on trading volume that surged 60% to $40.7 billion.

The slight uptick in the BTC price follows a disclosure that newly confirmed director of the Federal Bureau of Investigation (FBI) in the United States, Kash Patel, personally holds $115,000 worth of Bitcoin.

🇺🇸 NEW FBI DIRECTOR OWNS $150,000 IN #BITCOIN ETFS.

NEXT 4 YEARS ARE GOING TO BE WILD 🚀 pic.twitter.com/LGYZls2DhM

— Vivek⚡️ (@Vivek4real_) February 20, 2025

Bitcoin Price On A Bullish Breakout From A Falling Wedge

The 4-hour chart of the BTC price highlights a falling wedge pattern, which is a bullish reversal formation. The Bitcoin price has successfully broken out of the wedge, signaling a potential trend shift from consolidation to an uptrend.

Meanwhile, the 50 Simple Moving Average (SMA) (white line) at $96,517.45 is below the 200 SMA at $99,873.72, indicating a prior bearish trend, GeckoTerminal data shows.

However, the BTC price has moved above the 50-period SMA, a sign of growing bullish momentum. The next major hurdle is the 200-period SMA at $99,873.72, which could act as resistance.

The Relative Strength Index (RSI) is at 63.37, which is in bullish territory but not yet overbought. This suggests there is still room for further upside before a potential correction.

Bitcoin Price Chart

BTC Price Prediction – 105K Possible?

With the breakout confirmed, the Bitcoin price could target the $105,000 resistance level in the near term. If it surpasses the 200 SMA at $99,873.72, bullish momentum could accelerate further.

However, a pullback or retest of the breakout zone near $95,000 – $96,500 is possible before continuation.

Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL) that will give free Bitcoin to token holders. 99Bitcoins, a prominent YouTube channel with over 725k subscribers, says BTCBULL has the potential to soar 10X after launch.

BTC Bull Token Presale Surges Past $2.5 Million – A Promising Alternative

Interest in Bitcoin-linked projects remains high, with newcomer BTC Bull Token now closing on the $3 million mark in the first week of its presale.

The project aims to reward token holders with actual Bitcoin when BTC crosses certain price thresholds, starting with $150,000. These rewards continue with each $50,000 increase in Bitcoin’s price, potentially giving holders multiple opportunities to earn actual BTC without directly buying it.

Beyond these Bitcoin rewards, the project incorporates token burns that kick in when BTC reaches $125,000.

Bitcoin Bull token holders can also earn passively by staking the tokens for a 171% annual percentage yield (APY).

Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL for $0.002375 each using BNB, ETH, USDT, or a bank card.

Buy BTCBULL before a price hike in less than 2 days to secure the best deal.