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Cryptocurrencies opened the week with a bearish note as Bitcoin recorded minor actions around $97K.
However, BTC’s funding rate across top exchanges recently plunged to zero (according to CryptoQuant data).
Previous cycles suggest that these trends precede macro bull run, hinting at imminent gains for Bitcoin.
Meanwhile, this sets a perfect stage for the new Bitcoin Pepe project, which will unlock its initial coin offering to the public today.
Source: Bitcoin PepeBitcoin Pepe aims to tap Bitcoin’s legacy in the crypto sector for massive growth in the upcoming sessions.
Its PEP-20 standard allows enthusiasts to launch a meme token on the Bitcoin blockchain.
The BPEP team capitalizes on the traits that popularized Solana among retailers, enriching them through BTC’s security.
With Bitcoin’s funding rate metrics suggesting impending rallies, Bitcoin Pepe appears well-positioned for swift growth with its timely ICO debut.
Bitcoin’s zero funding rate signals upcoming rallies
Data shows BTC’s average funding rates in three top exchanges hit zero recently.
Source: CryptoquantSuch developments generally depict balanced markets and neutral sentiments.
Nevertheless, historical trends suggest that funding rates at zero often herald explosive price surges.
One element supporting Bitcoin’s bullish case is its resilience beyond $90K.
The bellwether crypto has consistently bounced back from this region (despite multiple retracements), confirming an unwavering buying interest.
Technical indicators reveal Bitcoin’s strength at current levels.
The 50-day ($98.72) and the 200-day ($79.12) moving averages will likely detect BTC performance.
Bitcoin price is testing the 50-d Moving Average. It should remain above this mark to ensure extended bullishness.
The Relative Strength Index at 46 confirms neutral conditions – neither oversold nor overbought.
That means BTC has room for uptrends with steady buying momentum.
Moreover, volume activity suggests accumulation around BTC’s current prices, further solidifying the $90K support barrier.
Meanwhile, a decisive move past the resistance between $98K and $100K might catalyze robust rallies to new ATHs.
Popular analyst Michael van de Poppe expects BTC to test $105K this week and all-time highs this month.
Good start of the week for #Bitcoin, which likely leads to a strong green week. I won’t be surprised that we’ll test $105K this week and have a new all-time high in February.
Bitcoin Pepe presale open to the public: world’s only BTC meme ICO
“Building Solana on Bitcoin,” the Bitcoin Pepe project brings meme tokens to BTC as the top crypto eyes notable recoveries to historic peaks.
Bitcoin Pepe will open its ICO to investors today at 11 am UTC.
It boasts around 30 presale stages, with initial and final prices at $0.021 and $0.0864, respectively.
With the PEP-20 coin standard, Bitcoin Pepe allows individuals to create and launch meme tokens on the Bitcoin network.
Bitcoin Pepe grabbed the cryptocurrency community’s attention after confirming its “building Solana on Bitcoin” plans.
Following Solana’s pump.fun footsteps, Bitcoin Pepe reduces the barriers to launching tokens on native blockchains, specifically BTC.
Meanwhile, individuals need the native BPEP tokens to trade on the new meme coin layer in the Bitcoin ecosystem.
That positions BPEP for impressive growth and price performance in the upcoming times.
You can visit their website to learn more about Bitcoin Pepe.
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