empty
09.06.2023 10:10 AM
Sellers increase pressure on BTC: is it worth waiting for a breakdown of $25k?

A month-long lull in the accumulation and consolidation movement of the BTC price ended with a sharp surge in volatility. In just a few days, the price of Bitcoin experienced bullish and bearish breakouts beyond the usual range of fluctuations. The initiators of impulsive price movements have always been sellers who provoked the reaction of the bulls.

This image is no longer relevant

To a large extent, the buyers' reaction was symmetrical and sufficient to protect key levels. However, with trading volumes below the $30 billion level, it is difficult for the bulls to achieve a full trend reversal. Macroeconomic news also does not add positivity, creating an atmosphere of anxious uncertainty in the market.

Fundamental Factors

Let's divert our attention from what is happening overseas and return to the Eurozone, where inflation recently reached levels seen at the beginning of 2022. The hawkish policy of the ECB has yielded results but significantly undermined the economy's capabilities. According to data from Eurostat, the Eurozone entered a recession in the first quarter, and GDP has been declining for two consecutive quarters.

This image is no longer relevant

The situation in the U.S. remains challenging as well, as the forecasts published on Thursday regarding the expected level of consumer prices in May stood at 4.2% compared to 4.9% in April. This indicates the likelihood of accelerating the pace of inflation decline to -0.7%, which adds optimism to investors.

This image is no longer relevant

At the same time, the published data on the number of initial jobless claims does not inspire optimism. The figure rose to 261,000, while for several months, the statistics did not exceed the 240,000 mark. On the one hand, this is an additional restraining factor for raising the Fed's interest rate, but on the other hand, it becomes evident that the regulator is losing its only method of combating inflation.

This image is no longer relevant

The battle between the SEC and the largest cryptocurrency exchanges continues, with a total loss of around $2 billion in user fund outflows. Additionally, Binance U.S. has stopped accepting U.S. dollars following the SEC's lawsuit, further undermining trust in centralized exchanges.

BTC/USD Analysis

Investors are actively reacting to negative events in the cryptocurrency market. It is reported that over the past month and a half, practically all categories of addresses have significantly increased their BTC holdings, with some groups reaching absolute highs. In total, traders and investors have withdrawn over 15,000 BTC from cryptocurrency exchanges over the past 1.5 months.

This image is no longer relevant

At the same time, analysts from several leading on-chain resources note that after the consolidation period, selling pressure has significantly increased. As of June 9, bears are dominating the cryptocurrency market, forcing buyers to react.

This image is no longer relevant

However, it cannot be claimed that bears have complete control over the BTC market. The recent buyers' reaction, which led to a "bullish engulfing" formation in Bitcoin, demonstrates the potential for an upward movement. However, at this stage, external factors and market sentiment do not provide bulls with the opportunity to realize an upward impulse.

This image is no longer relevant

The BTC/USD price is moving near the $26.6k level and attempting to return to the consolidation range of $26.6k–$27.5k. At this stage, sellers manage to hold the support level at $26.6k, which opens up the possibility for bears to push the price lower towards $25.5k. On the other hand, buyers need to enter the $26.6k–$27.5k range to continue the upward movement towards $28k.

Conclusion

The market is once again experiencing a calm period with a slight advantage for sellers, who are keeping the price within their desired range. Trading activity will likely decrease even further over the weekend, and more active price movement will be observed in anticipation of the Federal Reserve meeting and inflation data, where each side will attempt to implement their plans.

Ringkasan
Segera
Analitic
Artem Petrenko
Mulakan perdagangan
Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.
Muat turun MetaTrader 4 dan buka dagangan pertama anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    SERTAI PERADUAN

Artikel yang dicadangkan

Tether yakin secara maju melangkah ke arah memasuki pasaran AS

Bitcoin terus berdagang dalam saluran 116,500–120,000, menunjukkan volatiliti yang kukuh. Walau bagaimanapun, Ethereum menunjukkan prestasi yang jauh lebih buruk selepas penurunan baru-baru ini dalam aliran masuk ETF spot. Sementara

Jakub Novak 10:07 2025-07-24 UTC+2

Cadangan Dagangan untuk Pasaran Mata wang Kripto pada 24 Julai

Bitcoin sekali lagi cuba untuk melepasi paras $119,000 tetapi gagal, dan hari ini ia kembali turun menuju ke paras $117,000. Ethereum telah jatuh semula di bawah $3,600 dan kini menuju

Miroslaw Bawulski 09:20 2025-07-24 UTC+2

Permintaan terhadap Ethereum Kekal Kukuh

Dalam beberapa minggu kebelakangan ini, Ethereum telah menunjukkan pertumbuhan yang memberangsangkan, namun masih belum berjaya melepasi paras tertinggi sepanjang masa yang pernah dicapainya. Jelas sekali, dengan kemasukan aliran modal baharu

Jakub Novak 15:57 2025-07-23 UTC+2

Ethereum Spot terus menarik modal baru

Walaupun Ether jatuh di bawah paras $3,700, aliran masuk bersih ke dalam ETF Ethereum spot mencapai $533.9 juta semalam, aliran masuk harian ketiga terbesar sejak pelancaran mereka. Menurut SoSoValue, iShares

Jakub Novak 12:07 2025-07-23 UTC+2

Cadangan Dagangan untuk Pasaran Kriptowang pada 23 Julai

Bitcoin sekali lagi melepasi paras $119,000, seketika melepasi tanda $120,000, tetapi kemudian turun kembali kepada sekitar $118,500. Ini menunjukkan kesukaran yang ketara untuk kembali ke tahap tertinggi sepanjang masa berhampiran

Miroslaw Bawulski 09:18 2025-07-23 UTC+2

ChatGPT said: Pasaran Kripto: Musim Altcoin Kian Mengumpul Momentum

Pasaran kripto kini menunjukkan petunjuk kukuh bahawa ia sedang memasuki fasa baharu musim altcoin—iaitu tempoh pertumbuhan pesat bagi mata wang kripto alternatif. Pada pertengahan Julai, pasangan DOGE/USD telah kembali

Jurij Tolin 16:46 2025-07-22 UTC+2

Cadangan Dagangan untuk Pasaran Mata Wang Kripto pada 22 Julai

Bitcoin sekali lagi gagal untuk kukuh di atas paras $119,000, jatuh kembali ke kawasan $116,000 semasa sesi Asia hari ini. Ethereum juga turun sedikit selepas mencapai $3850. Sementara itu, menurut

Miroslaw Bawulski 09:50 2025-07-22 UTC+2

Bitcoin dan Ethereum Kekal dengan Momentum Kukuh

Selepas pemeteraian beberapa akta perundangan minggu lalu yang mengawal selia sektor mata wang kripto di Amerika Syarikat, Bitcoin dan Ethereum kini menunjukkan keyakinan yang kukuh. Langkah ini, yang telah lama

Jakub Novak 09:50 2025-07-22 UTC+2

Fasa pembetulan besar dan kejatuhan pasaran kripto telah pun berlalu bagi Bitcoin.

Setelah seketika berhenti sebagai tindak balas terhadap berita hari Jumaat mengenai Presiden Trump menandatangani tiga rang undang-undang baru yang mengawal pasaran aset digital di AS, Bitcoin meneruskan pergerakan menaiknya

Jakub Novak 10:46 2025-07-21 UTC+2

Cadangan Dagangan untuk Pasaran Mata Wang Kripto pada 21 Julai

Bitcoin menghabiskan hujung minggu dengan agak tenang, berdagang dalam julat $ 117,000 hingga $ 118,500, manakala Ethereum mencatat keuntungan yang kukuh, mengemas kini paras tertinggi bulanannya kepada sekitar $ 3,800

Miroslaw Bawulski 10:22 2025-07-21 UTC+2
Tidak boleh bertanya sekarang?
Tanya soalan anda di Ruangan bersembang.
Panggilan semula Widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.