Bitcoin is edging ever closer to recording a new all time high, climbing to $104,000 today. This renewed momentum comes amid rising Bitcoin mining profits that are further fueling the positive sentiment.
With Bitcoin appearing set for further gains, the presale for BTC Bull Token (BTCBULL) is seeing considerable investment. This project will reward holders with Bitcoin airdrops when BTC hits major new price milestones and has raised over $6 million through its ongoing ICO.
JPMorgan Counts on Bitcoin’s Success as Demand for the Largest Cryptocurrency Grows
Authored by JPMorgan analysts Reginald Smith and Charles Pearce, the bank’s latest report on Bitcoin reveals that miners earned approximately $50,100 in daily block reward revenue for every exahash per second (EH/s) of mining power during May’s first two weeks.
Representing a 13% increase from April and 3% from the same period last year, this uptick in profitability hasn’t gone unnoticed by investors, as JPMorgan-tracked U.S.-listed mining stocks surged 24% this month.
The enthusiasm of investors and miners is mirrored on the institutional side as well. JPMorgan, despite its CEO Jamie Dimon’s previous criticism of Bitcoin, has decided to allow its clients to buy Bitcoin, highlighting the growing demand for crypto exposure among mainstream investors.
However, JPMorgan is just joining the wave of institutional engagement with Bitcoin, which has already reshaped corporate treasury strategies in the past. Companies like Strategy and Metaplanet are already using BTC as more than just a hedge against currency devaluation, as it is also a driver of shareholder value and company performance.
On May 19th, Michael Saylor’s Strategy purchased approximately $764.9 million worth of Bitcoin, raising its total BTC holdings to 576,230 tokens. Although a smaller investment in comparison, Metaplanet added another 1,004 BTC to its portfolio the same day.
As Lookonchain detects increasing whale activity, which saw three whale-owned wallets accumulate a total of over $264.52 million worth of BTC over the past 24 hours, technical analyst Crypto Elites believes BTC is headed to the $150,000 mark over the next few months.
The analyst believes Bitcoin can surge to $150,000 before 2026 if resistance at the $113,900 level is breached, expecting BTC to face a sharp correction before moving up to the $170,000 mark in early 2026.
With its 50-day Simple Moving Average (SMA) of $92,255 well-above its 200-day SMA of $86,257, Bitcoin is exhibiting a classic “Golden Cross” pattern. Often seen as a strong indicator of future major upward price movement, the pattern suggests Bitcoin’s current price in the $105,000 range represents a strong buying zone.
BTC Bull Token Presale Crosses $6M Raised as Bullish Sentiment Around Bitcoin Builds
BTC Bull Token seeks to empower its holders during BTC bull runs with its unique rewards system that introduces a deflationary model and two sets of airdrop rewards.
With rewards set to be distributed each time Bitcoin adds another $25,000 to its price, starting with the $125,000 mark, BTCBULL holders stand a chance to earn amplified gains as Bitcoin surges to new highs.
Two BTC airdrops are scheduled to trigger once Bitcoin reaches $150,000 and $200,000 levels, so it’s no surprise investors are rushing to secure their share of BTCBULL as Bitcoin shows impressive growth potential.
Expecting further Bitcoin surges in value to boost the demand for BTCBULL, the expert believes BTCBULL stands a solid chance to skyrocket by up to 100x on launch.
He also reminded his audience that a massive BTCBULL airdrop is reserved for those holding the token when Bitcoin reaches $250,000, making it an excellent asset for long-term holding.
Plus, the token’s price may increase further once the planned token burns, designed to remove 15% of the total token supply from circulation, start creating scarcity.
BTCBULL’s current per-token price of $0.00252 represents an excellent entry point for investors, as it will only rise during the presale.