Bitcoin Price Starts the Week in the Red Bbut this BTC Alternative Looks Poised to Surge

Bitcoin is struggling after finding strong resistance at $38.5K. The market leader is currently priced at $37.35K, down 1.16% in the last 24 hours.

However, the newly launched presale Bitcoin ETF Token is continuing to surge ahead as it nears $1.8 million in its presale. Will this be the next crypto to boom?

Analysts Mixed on Bitcoin’s Next Move Following Pullback

Bitcoin’s recent pullback began after peaking at $38.4K on Saturday, followed by a strong retracement.

An hourly candle closed above $38K but was immediately canceled out by a proceeding a bearish engulfing candle, indicating $38K is a strong area of interest for sellers.

The price then plummeted to the $37K support level and then rebounded to $37.7K.

Despite its recent lack of direction, CoinMarketCap’s Crypto Fear and Greed Index is at 71/100, in the “greed” zone.

Meanwhile, some crypto influencers are backing Bitcoin for another leg up, with Jacob Canfield predicting its next move will reach $48.7K, followed by a 40% retracement and then a bull market rally.

Yet X commentator Mustache is even more bullish, predicting a move to $75K-$85K based on a monthly-time-frame megaphone chart pattern formation.

According to this premise, Bitcoin’s bear market lows are already in, and its rally to $75K will be followed by a resistance break out and even more upside.

However, other analysts are exercising more caution. According to Doctor Profit, Bitcoin is set to sell off to $33K shortly. The trader noted Bitcoin’s lack of strength below $38.5K indicates a strong pullback soon.

XForceGlobal’s outlook is similar to Doctor Profit, predicting Bitcoin’s next move to between $33K-$36K. The X account shared two trade ideas, illustrating an upcoming pullback before a rally above $40K.

Ultimately, with Bitcoin already up 125% this year, the market is uncertain whether it will continue to rally or if a cooling-off period is required first.

That said, sentiment on its long-term price action is clear – almost all traders expect it to explode in 2024 price after the halving and spot ETF approvals.

With that in mind, investors can begin leveraging this knowledge now through the exciting Bitcoin ETF Token presale, which has raised over $1.7 million in three weeks.

Deflationary Stake-to-Earn Bitcoin ETF Token Nears $1.8M in Presale

Bitcoin ETF Token is a unique new project blending the Bitcoin ETF excitement with cutting-edge tokenomics and real utility for massive potential.

The $BTCETF token is deflationary, which could help its value grow over time as its circulating supply diminishes. It does this by burning 5% of its total supply at five key Bitcoin ETF milestones and imposing a 5% burn tax on each transaction.

Its burn tax means the more popular the project becomes, the faster its supply will diminish. The exciting thing about this is that the presale is already becoming highly popular, with YouTuber Crypto Boy predicting it could 100x and top media outlets like Cointelegraph, Crypto News, and Yahoo Finance all backing it.

Meanwhile, Bitcoin ETF Token will reward holders through its Stake-to-Earn mechanism. Holders can earn a whopping 140% APY but must hurry as the APY reduces as the staking pool grows.

Lastly, it features a news feed, updating users on the latest Bitcoin and Bitcoin ETF events. This will help foster an active and engaged community while making the token more viral as users share its content on social media.

The current Bitcoin ETF Token presale price is $0.0058, but this may rise in one day.

Visit Bitcoin ETF Token Presale

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The project in the above article is not related to Bitcoin or to a Bitcoin ETF. It’s a completely different token.

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