Bitcoin (BTC) is holding steady near $110,000 as traders brace for potential volatility stemming from the high-profile Bitcoin Conference in Las Vegas.
With the event running from May 27 to 29, short-term traders are exercising caution while institutions continue to anchor market momentum with robust ETF demand.
This period of relative calm comes at a pivotal time for Bitcoin Pepe, a rising memecoin project that is rapidly approaching its first major centralised exchange (CEX) listing.
As BTC trades in a tight range and profit-taking from recent gains begins to unfold, new narratives like Bitcoin Pepe are capturing retail attention with the clock ticking on its presale.
Market calm before the conference storm
BTC’s current trading range between $107,000 and $110,000 reflects a wait-and-see sentiment, according to market insights shared by QCP Capital on May 27.
While equities pushed higher last Friday, Bitcoin (BTC) remained largely unmoved, signalling investor hesitation ahead of potential headline risk from the ongoing Bitcoin Conference.
Implied volatility remains elevated, underscoring the market’s sensitivity to political developments and unexpected announcements.
QCP warned that a similar pattern emerged during the July 2023 Bitcoin Conference in Nashville, when a surprise keynote by Donald Trump sparked a 30% price drop over two days.
Traders appear to be trimming exposure again, as open interest in perpetual futures dips and funding rates normalise.
Retail activity is also cooling, with high-profile traders like James Wynn scaling back positions and short-dated downside protection gaining demand.
Despite this caution, institutional appetite for Bitcoin remains firm, providing a strong tailwind that continues to support the broader market structure.
Bitfinex analysts believe that although realised profit-taking is increasing, the presence of institutional buyers has transformed Bitcoin into a long-term strategic asset.
Bitcoin rally faces a consolidation phase
Bitcoin recently surged past $111,800, marking a significant rebound of over 50% from the April lows.
This rally was primarily driven by strong inflows into spot Bitcoin ETFs, rising institutional demand, and a notable absence of retail euphoria.
However, Bitfinex analysts note that this market behaviour mirrors previous bull cycles, where sharp upward moves were often followed by a consolidation phase.
The analysts say this consolidation is necessary to reset leverage and allow the market to stabilise before the next leg higher.
Key support now lies around the short-term holder cost basis of $95,000, a level that could be tested if short-term selling accelerates.
Over $11.4 billion in realised gains among short-term holders in the past month signals potential supply pressure that could weigh on price in the near term.
Nonetheless, the market’s long-term trajectory remains intact, especially with institutional adoption accelerating.
Publicly listed firms like Strategy, Semler Scientific, and Metaplanet have collectively acquired more than 8,800 BTC in recent weeks, highlighting growing corporate confidence in Bitcoin’s value proposition.
Bitcoin Pepe (BPEP) is ready to explode alongside BTC
Amid this broader market context, Bitcoin Pepe is rapidly gaining attention as its presale nears the finish line with only four days remaining.
The project, which fuses memecoin culture with Bitcoin’s brand strength, has positioned itself as one of the most anticipated token launches of the season.
Bitcoin Pepe has already seen substantial gains throughout its presale, with its token price increasing by more than 71% from its initial valuation of $0.0210 to the current price of $0.0377.
Each presale stage has delivered consistent appreciation, and with just days to go, many investors are eyeing the final opportunity to enter before the token lists on major CEX platforms.
Notably, given the current price of BTC and the heightened visibility of the Bitcoin Conference, Bitcoin Pepe’s listing could coincide with a wave of renewed retail interest.
In addition, as memecoins continue to outperform in speculative phases of the market, Bitcoin Pepe stands to benefit from both narrative momentum and strategic timing.
Market participants see the project’s dual leverage — a strong association with Bitcoin and viral meme appeal — as key ingredients for explosive post-listing performance.
As a result, this window presents what could be a compelling entry point, especially for investors who missed earlier memecoin cycles or those seeking exposure to new projects during BTC’s consolidation.
If interested, visit the Bitcoin Pepe website for more information.
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