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Bitcoin still struggling around $61k: Will it dip lower?

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Key takeaways

  • Bitcoin continues to struggle below $62k and could plunge lower in the short term.
  • Bitbot has raised $3.3m so far, with only two stages of the presale left.

Bitcoin stays below $62k

Bitcoin has been struggling in recent weeks and could record further losses if the market condition persists. At press time, the price of Bitcoin stands at $61,254, down by than % in the last seven days.

The poor performance comes as the US Federal Reserve recently dashed hopes of cutting interest rates in the short term. Risk-averse assets like Bitcoin continue to underperform with the interest rate still high. 

What is Bitbot? 

Bitcoin’s boring price performance hasn’t affected other activities in the broader crypto market. Presales and airdrops continue to attract the attention of Degens and other industry participants. 

Bitbot is one of the projects that is raising capital from investors to address certain pain points in the market. It is a Web3 project that seeks to bring unique value propositions to traders in the cryptocurrency space. It is a Telegram trading bot that puts the power in the hands of the user. 

According to their whitepaper, the team describes Bitbot as a self-custodial trading bot that enables users to trade via their cold wallets on Telegram. The solution provides traders with an innovative way of trading and is leveraging Telegram’s position as a leading social media platform for crypto users. 

Bitbot users will enjoy certain features available only to institutional investors, making it easier for traders to grow their trading portfolios.

Bitbot’s tech targets retail traders

Bitbot is rolling out tech solutions that could help retail traders excel in the cryptocurrency market. According to their whitepaper, Bitbot will leverage the Knightsafe to offer a self-custody solution. This solution helps in mitigating the typical risks associated with Telegram trading.

Furthermore, the integration of anti-MEV and anti-rug solutions will help users protect their assets. These solutions would ensure traders protect their data and assets from bots artificially pumping transaction costs and block scam projects.

With more than $3.3 million raised so far, some of the presale funds will be channeled towards integrating Ultra-flexible wallet management fuelled by non-custodial API technology. 

Finally, Bitbot will also enable the Cop Trading feature, allowing novice traders to copy the trades of the strongest-performing wallets based on on-chain activities.

Bitbot’s presale tops $3.3m

The Bitbot presale is currently in its tenth stage and is drawing closer to its end. So far, the project has raised $3,337,931 of the required $3,546,000 in this current stage. According to the team, there are only two presale stages left.

The $BITBOT token is going for $0.0180 in the current presale round and will increase to $0.0189 once the next round commences. 

The whitepaper indicated that the Bitbot development team will hold 20% of the total token supply and use it to fund ongoing development. An additional 14% is allocated to marketing & CEX listings while 3% is allocated to exchange liquidity provision.

Click here to read more about Bitbot’s upcoming presale. 

Should you buy the Bitbot token now? 

There are only two stages left in this presale, which means the opportunity to invest early in this project is slipping away. Bitbot’s presale continues to attract more investors despite the choppy market conditions.

Bitbot is looking to gain massive adoption in the market by offering unique technologies that would allow traders to improve their trading activities. Its native token could be a big winner in the coming months and years with the right level of adoption.



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3 Meme Coins to Watch For The Last Week of February 2025

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DOGEai, TST, and BROCCOLI are three meme coins drawing attention for the last week of February. DOGEai, launched on Solana, is up 110% in the past seven days, positioning itself as a leading AI meme coin.

TST remains one of the most popular meme coins on the BNB chain despite a recent correction. At the same time, BROCCOLI, inspired by Binance co-founder CZ’s dog, has also seen significant volatility.

DOGEai (DOGEAI)

DOGEai is an artificial intelligence coin launched on Solana. Its market cap is now $32 million, up 82% in the last seven days. This rise has positioned DOGEai as one of the most talked-about AI meme coins in recent days.

DOGEAI Price Analysis.
DOGEAI Price Analysis. Source: TradingView.

DOGEai leverages multiple narratives, including Dogecoin’s popularity, the growing interest in DOGE (Department of Government Efficiency), and the broader AI cryptos trend. It defines itself as “an autonomous AI agent here to uncover waste and inefficiencies in government spending and policy decisions,” offering bill summaries and insights into government expenditures.

If the current uptrend continues, DOGEai could test the resistance at $0.048, with potential targets at $0.059 and $0.069. However, if a downtrend emerges, DOGEai has support at $0.030, and if that level is lost, it could drop to $0.018 or even $0.0092.

Test (TST)

TST has emerged as one of the most popular meme coins on the BNB chain, benefiting from the chain’s growing volume, which recently even surpassed Solana.

In the days following its launch, TST reached a market cap close to $500 million, then entered a strong correction phase. Its market cap has since dropped to $78 million.

TST Price Analysis.
TST Price Analysis. Source: TradingView.

If the BNB narrative gains strength again, TST could benefit as one of its most popular meme coins and may test the resistance at $0.10. A breakout above this level could push TST to $0.20 or even $0.25 if buying pressure intensifies.

However, if TST fails to regain strong upward momentum, it could test the support at $0.0719 and potentially drop to its lowest levels since February 9.

CZ’S Dog (BROCCOLI)

BROCCOLI was launched a few weeks ago after Binance co-founder CZ revealed his dog’s name, sparking a flood of BROCCOLI tokens on the market.

The largest of these tokens quickly surged to a $249 million market cap in its early days but has since dropped to $52 million.

Like TST, BROCCOLI benefited from the recent rise of the BNB ecosystem but has since entered a strong correction phase. It is down 40% in the last seven days.

BROCCOLI Price Analysis.
BROCCOLI Price Analysis. Source: TradingView.

If the downtrend continues, BROCCOLI could test support near $0.04, and a break below this level could push it to its lowest price since launch.

However, if the BNB ecosystem and meme coins regain traction, BROCCOLI could benefit, especially given the popularity of dog-related meme coins like Dogecoin and Shiba Inu. In this bullish scenario, BROCCOLI could rise to test the resistance at $0.113.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Ethereum Rollback Debate Intensifies After Bybit Hack

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The crypto community is divided over calls for an Ethereum blockchain rollback following a massive security breach at Bybit.

On February 21, the exchange lost nearly $1.5 billion in ETH to hackers, sparking discussions about whether Ethereum should intervene to recover the stolen funds.

What is a Blockchain Rollback?

A blockchain rollback, also known as a reorganization, involves reversing confirmed transactions to restore the network to an earlier state.

This process usually happens after a major security breach or exploit. Validators must reach a consensus to discard the affected blocks, effectively erasing the malicious transactions.

Despite its potential benefits, a rollback remains a controversial and rarely used measure due to its impact on a blockchain’s trust and decentralization.

Blockchains operate on the principle of immutability, meaning transactions are expected to be final once confirmed. So, rolling back transactions challenges this principle, raising concerns about the security and reliability of the network.

Crypto Leaders Clash Over Ethereum Rollback Proposal

BitMEX co-founder Arthur Hayes has been vocal in advocating for a rollback to solve the ByBit hack. He pointed to the 2016 DAO hack, where Ethereum underwent a hard fork to recover stolen funds, as precedent.

Hayes argued that since Ethereum previously compromised on immutability, another intervention should not be off the table.

“My own view as a mega ETH bag holder is ETH stopped being money in 2016 after the DAO hack hardfork. If the community wanted to do it again, I would support it because we already voted no on immutability in 2016,” Hayes said.

JAN3 CEO Samson Mow also supported the rollback, stating it could prevent North Korea from using the stolen funds to fund its nuclear weapons program.

However, not everyone agrees. Pseudonymous crypto trader Borovik strongly opposed the idea, arguing that a rollback would jeopardize Ethereum’s credibility and neutrality.

Bitcoin advocate Jimmy Song also dismissed the possibility, stating that the Bybit hack cannot be compared to the 2016 DAO exploit. Song emphasized that the DAO hack allowed for a 30-day intervention, whereas the Bybit attack is already finalized, making a rollback impractical.

“I know people are expecting the Ethereum Foundation to roll back the chain, but I suspect it’s already too much of a mess to do it cleanly,” Song added.

Meanwhile, Ethereum supporter Adriano Feria introduced an alternative perspective. He argued that Bybit could have avoided this situation by using a Layer 2 (L2) solution with conditional reversible transactions.

According to Feria, blockchain technology needs some form of reversibility to ensure real-world adoption.

“Whether through social recovery or another pre-determined, immutable, and transparent decision-making process, real-world mass adoption will not work without reversible transactions. Without this capability, transactional activity will inevitably gravitate toward TradFi systems that already provide it,” Feria stated.

This debate raises a fundamental question for Ethereum: should it prioritize immutability or intervene in extreme cases?

While some see a rollback as a necessary response to an unprecedented loss, others fear it could undermine the core principles of decentralization. Ethereum’s next steps will likely shape its long-term credibility and trust within the crypto space.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Berachain (BERA) Falls 15% After Recent Rally Surge

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Berachain (BERA) is down almost 15% in the last 24 hours, with its market cap now at $778 million, although its price remains up nearly 20% over the past seven days. This sharp pullback comes after a strong rally between February 18 and February 20, when BERA reached levels above $8.5.

BERA’s Relative Strength Index (RSI) has dropped from overbought levels, signaling a loss of bullish momentum, while its Directional Movement Index (DMI) shows growing bearish pressure. As BERA navigates this correction phase, it faces key support at $6.1, with potential resistance levels at $8.5, $9.1, and $10 if bullish momentum returns.

BERA RSI Is Dropping Steadily After Touching Overbought Levels

Berachain Relative Strength Index (RSI) is currently at 50.6, down sharply from 86.7 just two days ago when its price surged above $8.5. RSI is a momentum oscillator that measures the speed and change of price movements, ranging from 0 to 100.

It is commonly used to identify overbought or oversold conditions, with values above 70 indicating overbought levels and below 30 suggesting oversold territory.

The steep decline in BERA’s RSI reflects a significant loss of bullish momentum after reaching overbought levels above 86, where a correction was likely.

BERA RSI.
BERA RSI. Source: TradingView.

With RSI now at 50.6, BERA is in a neutral zone, suggesting that buying and selling pressures are relatively balanced.

This could indicate a period of consolidation as the market digests recent gains. If RSI continues to decline below 50, it could signal increasing bearish momentum. This could lead to a further price drop for BERA.

Conversely, if RSI stabilizes and begins to rise, it could suggest renewed buying interest and a potential recovery in Berachain price.

BERA DMI Chart Shows Buyers Are Losing Control

Berachain Directional Movement Index (DMI) chart shows its Average Directional Index (ADX) currently at 50.5, after peaking at 60.2 yesterday, up from just 13.3 five days ago. ADX is an indicator used to measure the strength of a trend, regardless of its direction, ranging from 0 to 100.

Values above 25 typically indicate a strong trend, while values below 20 suggest a weak or sideways market. The sharp rise in ADX reflects a significant increase in trend strength, confirming that BERA has been experiencing strong directional movement recently.

BERA DMI.
BERA CMF. Source: TradingView.

Meanwhile, BERA’s +DI is at 24.4, down from 48.4 two days ago, indicating weakening bullish momentum. Meanwhile, -DI has risen to 15.1 from 4.9, suggesting growing bearish pressure.

This shift signals that the bullish trend that drove prices higher is losing steam, and selling interest is beginning to increase.

If -DI continues to rise above +DI, it could indicate a bearish crossover, signaling a potential reversal or deeper correction in BERA’s price. However, if +DI stabilizes and moves upward again, it could suggest a continuation of the uptrend, albeit with reduced momentum.

Will Berachain Fall Below $6 Soon?

Berachain surged 53% between February 18 and February 20, pushing its price above $8.5 after the coin struggled following its airdrop. However, after this sharp rally, BERA entered a correction phase and is currently down almost 15% in the last 24 hours.

This pullback suggests profit-taking and a shift in market sentiment as buyers hesitate to push prices higher. If the downtrend continues, BERA could soon test the support at $6.1, and a break below this level could lead to a further decline towards $5.48, reflecting increased selling pressure.

BERA Price Analysis.
BERA Price Analysis. Source: TradingView.

On the other hand, if Berachain can regain its bullish momentum from a few days ago, it could rise above $8.5 again, potentially testing the next resistance levels at $9.1 or even $10.

To confirm this bullish scenario, Berachain would need to see renewed buying interest and strong upward momentum. If buyers can defend key support levels and push the price above resistance zones, it could indicate the continuation of the uptrend.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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