Bitcoinâs price action has been wild lately, with the coin dipping below $92,000 earlier today.
This move comes amid a trend of ups and downs that has kept crypto traders guessing since the beginning of the year.
But thereâs a new Web3 project thatâs having a different start to 2025.
Best Wallet, a feature-rich crypto wallet platform, has seen the presale for its native BEST token raise over $7 million â and counting.
Bitcoinâs having a rough start to the week.
Its price has tumbled to $91,350, a drop of over 4% in the past day and 11% from last weekâs high.
This drop puts Bitcoin at its lowest point since late November.
However, itâs not just Bitcoinâs price action thatâs worrying investors.
Trading activity has shifted, with spot volumes more than doubling in the past day â hinting at growing selling pressure.
Falling open interest also suggests traders are getting out of the market while they can.
Looking at the charts, Bitcoin is now teetering on a crucial support level.
This could be a turning point for the coin, and while some are worried about a break below, others see a buying opportunity.
Popular analyst Mister Crypto, for example, remains bullish.
He tweeted that Bitcoin is making a âtextbookâ triple bottom pattern on the 12-hour chart â and that heâs buying the dip.
So, why is Bitcoin struggling?
First of all â itâs not alone.
The whole crypto market is facing some headwinds right now, with one factor being the strength of the U.S. dollar, which has climbed to levels we havenât seen since the 2022 bear market.
When the dollar is strong, it tends to put pressure on crypto prices.
Then thereâs the Federal Reserve â after hinting at numerous rate cuts this year, it has changed its tune.
Markets are predicting fewer rate cuts in 2025 than initially hoped, with the odds of a cut this month down to just 2.7%.
This âhigher for longerâ rate environment isnât good news for riskier assets like cryptocurrency.
And if all that wasnât enough, next weekâs inauguration adds to the uncertainty.
Traders anticipate volatility around Trumpâs inauguration, leading some to reduce their exposure.
Critical economic reports are also due this week, so itâs clear why many traders are taking a more cautious approach.
In contrast to Bitcoinâs struggles, Best Walletâs presale is going from strength to strength.
It just passed the $7 million funding milestone, with investors snapping up BEST tokens for just $0.023575.
However, that price will rise when the next presale stage begins in one day.
Crypto influencer Austin Hilton also reviewed the project, and his latest video has received 1,500+ views in just 10 hours.
This suggests that the crypto community is really excited about Best Wallet.
Most of the excitement is because Best Wallet offers much more than other crypto wallets.
It has a built-in DEX, a soon-to-be-released crypto debit card, and even a staking aggregator.
The BEST token itself is a key part of this ecosystem, providing holders with benefits like reduced fees and early access to new crypto presales.
BEST holders can even stake their tokens for market-beating yields.
With the entire ecosystem already audited by Coinsult, itâs no wonder the project is blowing up online.
It offers the whole package: smart features, a strong community, and a clear focus on security.
So, while Bitcoin might be taking a hit, Best Wallet is defying the trend.
Visit Best Wallet Token Presale
Disclaimer: The above article is sponsored content; itâs written by a third party. CryptoPotato doesnât endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotatoâs full disclaimer.
The post Bitcoin Price Dips Below $92K as Some Traders Rotate into $7M Best Wallet ICO appeared first on CryptoPotato.
This move comes amid a trend of ups and downs that has kept crypto traders guessing since the beginning of the year.
But thereâs a new Web3 project thatâs having a different start to 2025.
Best Wallet, a feature-rich crypto wallet platform, has seen the presale for its native BEST token raise over $7 million â and counting.
Bitcoin Price Plummets â Is It a Good Time to Buy the Dip?
Bitcoinâs having a rough start to the week.
Its price has tumbled to $91,350, a drop of over 4% in the past day and 11% from last weekâs high.
This drop puts Bitcoin at its lowest point since late November.
However, itâs not just Bitcoinâs price action thatâs worrying investors.
Trading activity has shifted, with spot volumes more than doubling in the past day â hinting at growing selling pressure.
Falling open interest also suggests traders are getting out of the market while they can.
Looking at the charts, Bitcoin is now teetering on a crucial support level.
This could be a turning point for the coin, and while some are worried about a break below, others see a buying opportunity.
Popular analyst Mister Crypto, for example, remains bullish.
He tweeted that Bitcoin is making a âtextbookâ triple bottom pattern on the 12-hour chart â and that heâs buying the dip.
Why is Bitcoin Down Today? Key Factors Behind BTCâs Dip
So, why is Bitcoin struggling?
First of all â itâs not alone.
The whole crypto market is facing some headwinds right now, with one factor being the strength of the U.S. dollar, which has climbed to levels we havenât seen since the 2022 bear market.
When the dollar is strong, it tends to put pressure on crypto prices.
Then thereâs the Federal Reserve â after hinting at numerous rate cuts this year, it has changed its tune.
Markets are predicting fewer rate cuts in 2025 than initially hoped, with the odds of a cut this month down to just 2.7%.
This âhigher for longerâ rate environment isnât good news for riskier assets like cryptocurrency.
And if all that wasnât enough, next weekâs inauguration adds to the uncertainty.
Traders anticipate volatility around Trumpâs inauguration, leading some to reduce their exposure.
Critical economic reports are also due this week, so itâs clear why many traders are taking a more cautious approach.
Best Wallet Presale Defies Bearish Conditions & Raises $7M for New Web3 Wallet Ecosystem
In contrast to Bitcoinâs struggles, Best Walletâs presale is going from strength to strength.
It just passed the $7 million funding milestone, with investors snapping up BEST tokens for just $0.023575.
However, that price will rise when the next presale stage begins in one day.
Crypto influencer Austin Hilton also reviewed the project, and his latest video has received 1,500+ views in just 10 hours.
This suggests that the crypto community is really excited about Best Wallet.
Most of the excitement is because Best Wallet offers much more than other crypto wallets.
It has a built-in DEX, a soon-to-be-released crypto debit card, and even a staking aggregator.
The BEST token itself is a key part of this ecosystem, providing holders with benefits like reduced fees and early access to new crypto presales.
BEST holders can even stake their tokens for market-beating yields.
With the entire ecosystem already audited by Coinsult, itâs no wonder the project is blowing up online.
It offers the whole package: smart features, a strong community, and a clear focus on security.
So, while Bitcoin might be taking a hit, Best Wallet is defying the trend.
Visit Best Wallet Token Presale
Disclaimer: The above article is sponsored content; itâs written by a third party. CryptoPotato doesnât endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotatoâs full disclaimer.
The post Bitcoin Price Dips Below $92K as Some Traders Rotate into $7M Best Wallet ICO appeared first on CryptoPotato.
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