Bitcoin Price Fell 2% As This L2 Presale Goes Parabolic

The Bitcoin price slipped 2% in the last 24 hours to trade at $115,859 as of 11:25 p.m. EST as some traders sell the crypto.

That drop in the BTC price comes even after US Securities and Exchange Commission (SEC) Chair Paul Atkins announced “Project Crypto.” The initiative aims to modernize the agency for the digital finance age and establish clear regulations for digital assets in the US.

You: “crypto is a scam”

SEC Chairman: launching “project crypto” to “modernize the securities rules & regulations to enable America’s financial markets to move on-chain”

You’re surely paying attention now, right? pic.twitter.com/jvQr335Gyl

— Nate Geraci (@NateGeraci) July 31, 2025

Bitcoin Price Could Break Below A Consolidation Channel

Daily chart for WBTC/USD (Source: GeckoTerminal)

The Bitcoin price is nearing the support level at $114,449.63 after consolidating between this level and $121,843.43 over the past week, data from GeckoTerminal shows. If this level fails to hold, it could trigger a wave of panic sell pressure. BTC might then fall to the next key support level at $109,330.85.

That bearish thesis might not play out if the Bitcoin price rebounds from the $114,449.63 support. In this case, the crypto market leader might either continue its consolidation or try to flip the $121,843.43 resistance into support and soar to a new all-time high (ATH).

Technicals Warn Bears Might Push The Bitcoin Price Down Lower

Looking at technical indicators on the daily chart, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) both warn the Bitcoin price could drop further in the next 24-48 hours.

Over the last few days, the MACD line has broken away below the MACD Signal line. This alignment and the growing margin between the two lines is often seen as an indication that bearish momentum is picking up steam. 

Meanwhile, RSI readings have dropped from around 70 to below the neutral 50 mark in the last week, which warns that a continuation of Bitcoin’s consolidation is unlikely. What’s more, the negative slope of the RSI line suggests sellers have no intention of easing their pressure on the Bitcoin price any time soon.

If those warnings presented by the MACD and RSI on the daily chart influence traders’ decision making, it could lead to a drop below the $114,449.63 support. 

While technicals may be flashing bearish for Bitcoin, investors continue to pile into the presale for a new BTC-themed token called Bitcoin Hyper (HYPER). According to crypto analyst and YouTuber Crypto Boy, who has over 61K subscribers, HYPER is an amazing project.

Bitcoin About To Get Its Biggest Scaling Upgrade To Date

With the SEC finally adapting to the modern age of blockchain and crypto technology, now is the perfect time for the legacy Bitcoin network to get an upgrade. Over the years, it has proven itself as a reliable, decentralized store of value, but has fallen behind when it comes to scalability.

Perhaps the reason developers have opted to not overhaul the Bitcoin blockchain over the years was to preserve as much of the Satoshi-era code as possible, but what if there was a way to scale Bitcoin without touching its original source code? Enter Bitcoin Hyper.

The project is a layer-2 scaling solution that will run in parallel to the Bitcoin network. It integrates with the Solana Virtual Machine (SVM), meaning it’s one of the few solutions that gives the Web3 community the best of both worlds: Bitcoin’s security and Solana’s speeds. 

BTC Hyper will also bring smart contract functionality to the Bitcoin ecosystem, which will likely lead to the creation of BTC-based decentralized apps. 

Powering that new application layer will be HYPER, which will be used as a primary transaction medium on the Bitcoin Hyper layer-2 chain. As more people rush to use the decentralized apps in the BTC ecosystem, HYPER is likely to gain.

Bitcoin Hyper Presale Goes Parabolic

Investors are already betting big on HYPER’s future, and have pumped over $6.1 million into the project’s ongoing ICO. 

There’s still time left for investors to get in at this ground stage of the project. To participate in the presale, investors can acquire HYPER for $0.012475 apiece via the widget embedded on the project’s website using either crypto or bank card. 

Tokens can also be staked for an attractive 166% APY. 

Interested investors will want to hurry, because HYPER’s price will increase as its presale progresses. The next ICO price hike will happen in around 14 hours. 

Visit the official Bitcoin Hyper website to learn more. 

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