Bitcoin (BTC) Price Rebounds But Faces Crucial Test, SATS, STX, and New BRC-20 Tokens Explode

Bitcoin’s ongoing recovery has provided a major boost to BRC-20 and BTC beta tokens. BRC-20 meme coin SATS (1000SATS) is up by nearly 7% today

As Bitcoin continues to rally, so too are BRC-20 and BTC beta tokens showing major gains.

BRC-20 meme coin SATS (1000SATS) is up nearly 7% today on Thursday, bringing its weekly gains to over 22%.

Similarly, Bitcoin Layer-2 token Stacks (STX) has rallied by almost 11.50% over the past 24 hours.

Smart money traders are also stacking new, low-cap BRC-20 coins, with tokens such as WHEE and Grumpy up by 80% and 50% respectively.

Experts have also identified 99Bitcoins as another new cryptocurrency that could explode. The 99BTC presale has raised $2.4 million as a result of strong early demand.

The Bitcoin price is now up over 8% from its weekly low of $54,000 and is now trading near the $58,500 mark.

This is despite the continued sell-offs from the German government. For instance, the German authorities sold over $637 million worth of BTC yesterday on Wednesday, resulting in only a negligible impact on its price.

Spot Bitcoin ETFs have again started to act as a risk proxy, with strong daily inflows – the ETFs added another $281 million worth of BTC yesterday.

More importantly, BTC is now trading above its 200-day Exponential Moving Average, which currently stands at $58,100. A weekly close above this level could initiate a move to $60,000 and beyond. The bulls would also hope to flip the 200-day Simple Moving Average, which is hovering at $58,900.

However, the bullish strength in Bitcoin is already enough for BRC-20 coins and BTC beta tokens to explode.

SATS – one of the top BRC-20 meme coins – is trading at $0.000197, up 7% today. Its market capitalization is now north of $415 million, thanks to a 30% surge in its daily trading volume.

The key resistance for SATS is now its monthly open price of $0.00025. A flip of this level could result in a push towards new highs.

The token is also trading below a descending trendline in the daily timeframe. Experts believe that a breakout above could trigger a 3x to 5x rally in the coming weeks.

Similarly, Stacks (STX) appears to be on the verge of a bullish continuation, with its daily trading volume up by over 100% today.

Unsurprisingly, the L2 token is up by over 12% in the past 24 hours and is trading at $1.67, with a market capitalization of $2.4 billion.

Experts highlight that STX is trading between a parallel descending channel in the 8-hour timeframe and appears on the cusp of a breakout from the upper trendline. In such a scenario, the BRC-20 token could explode by more than 40% to trade above the $2 mark.

However, any long-term rally will depend on Bitcoin’s price trajectory. SATS and Stacks – similar to most BRC-20 tokens – show a strong correlation to BTC.

While the Bitcoin price may see fluctuations in the short term, most experts expect it to trade beyond the $100k price mark in the long run, providing the ideal backdrop for BRC-20 tokens to deliver outsized returns.

99Bitcoins is a popular crypto educational platform, launched in 2013, even before the Ethereum blockchain went live. It has a strong community backing in the Web3 space, with nearly 3 million subscribers across its website and YouTube.

Unsurprisingly, the launch of its native token – 99BTC – is seeing significant early demand. It has already raised close to $2.5 million in its presale.

99BTC – a learn-to-earn token – aims to provide significant financial incentives to its holders as well as nearly 3 million learners.

For instance, learners will receive free crypto – in the form of additional 99BTC tokens – for progressing through the platform’s learning materials. Similarly, they can unlock exclusive training courses, alpha trading setups and strategies and access to VIP groups.

Investors who are not interested in learning will also receive attractive perks. For instance, they can stake their 99BTC holdings and earn passive income, at a reward rate significantly higher than the industry average. The current yield percentage is over 700%.

If this isn’t enough, investors can also register for the 99Bitcoins airdrop. 99 lucky airdrop winners will win over $10

The above is the detailed content of Bitcoin (BTC) Price Rebounds But Faces Crucial Test, SATS, STX, and New BRC-20 Tokens Explode. For more information, please follow other related articles on the PHP Chinese website!