empty
InstaForex - Official partner of Dragon Racing
InstaForex - Official partner of Dragon Racing
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Headquarters
Key documents
Social Responsibility
09.06.2023 10:10 AM
Sellers increase pressure on BTC: is it worth waiting for a breakdown of $25k?
Open trading account Open demo account

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.

Artem Petrenko,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
All Analytics
Wave analysis
GBP/USD Analysis on May 7, 2025 The wave pattern for GBP/USD has also transformed into a bullish, impulsive structure—"thanks" to Donald Trump. The wave picture closely resembles that of EUR/USD. Until February 28, we observed
Chin Zhao
19:55 2025-05-07 +02:00
1195
Wave analysis
EUR/USD Analysis on May 7, 2025 The wave pattern on the 4-hour chart for EUR/USD has transformed into a bullish structure. I believe there's little doubt that this transformation has occurred solely
Chin Zhao
19:51 2025-05-07 +02:00
1255
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Crypto market opens with buoyant growth

US stock index futures surged sharply at the opening of today's trading session on news that representatives from the US and China have resumed consultations on trade matters. Media reports
Jurij Tolin 14:14 2025-05-07 UTC+2

Trading Recommendations for the Cryptocurrency Market on May 7

Bitcoin and Ethereum Show Further Growth Amid Positive Crypto Legislation News Bitcoin is currently trading at $96,700, having rebounded from a low of $93,400, while Ethereum has recovered
Miroslaw Bawulski 10:32 2025-05-07 UTC+2

Bitcoin Gathers Strength: The Market Prepares for the Next Wave

Bitcoin is trading in the $93,000–$94,000 range, about 0.5% below its recent local high of $97,900, recorded on May 2. Volatility has decreased, and the market seems
Ekaterina Kiseleva 01:23 2025-05-07 UTC+2

Trading Recommendations for the Cryptocurrency Market on May 6

Bitcoin and Ethereum spent the day in a sideways channel, although signs of active selling during yesterday's American session raise certain questions about the trading instruments' further short-term upward prospects
Miroslaw Bawulski 09:11 2025-05-06 UTC+2

Bitcoin Loses Its Foothold and Balances on a Knife's Edge: The $95,000 Trap

Bitcoin is under pressure once again. On Monday, the price of the world's largest cryptocurrency dropped below $95,000, and this is more than just another correction. It's a symptom
Ekaterina Kiseleva 00:50 2025-05-06 UTC+2

Stablecoin bill in jeopardy

Bitcoin and Ethereum have declined, and the broader cryptocurrency market reacted negatively to news that the bipartisan GENIUS Act—Guiding and Enabling National Innovations for Unleashing Stablecoins—was expected to reach
Jakub Novak 15:04 2025-05-05 UTC+2

Trading Recommendations for the Cryptocurrency Market on May 2

Bitcoin and Ethereum buyers have achieved new key resistance levels, indicating strong demand. Bitcoin has reached the $97,400 level, while Ethereum has approached the $1,870 mark. Meanwhile, the buzz around
Miroslaw Bawulski 09:15 2025-05-02 UTC+2

Technical Analysis of Daily Price Movement of Chainlink Cryptocurrency, Friday May 02, 2025.

With the appearance of the Bullish 123 pattern followed by the appearance of the Bullish Ross Hook which managed to break the previous downtrend line and the Stochastic Oscillator indicator
Arief Makmur 08:01 2025-05-02 UTC+2

Bitcoin: Who's Behind the New Accumulation and Where Is the Price Heading?

Amid a steady outflow of coins from exchanges, renewed futures market activity, and a rise in short-term holders, the world's largest cryptocurrency lays the groundwork for a potential move that
Ekaterina Kiseleva 01:03 2025-05-02 UTC+2

Bitcoin: why May could become pivot point for crypto market

While financial mainstream market participants are mulling over recession risks and interest rates, Bitcoin is steadily gaining ground. April has turned out to be the strongest month for the leading
Ekaterina Kiseleva 16:05 2025-04-30 UTC+2

Top analytics

Relevance up to 03:00 UTC--4
Gold Returns to Growth
09:14 2025-05-07
Fundamental analysis
Relevance up to 20:00 UTC--4
EUR/USD Overview – May 7: The Fed Meeting Becomes the Dollar's New "Headache"
03:35 2025-05-07
Fundamental analysis
Relevance up to 03:00 UTC--4
EUR/USD – May 7th: Bulls Are Reversing the Trend
10:56 2025-05-07
Technical analysis
Relevance up to 20:00 UTC--4
GBP/USD Overview – May 7: Trump Didn't Get a Call from China, Had to Back Down
03:35 2025-05-07
Fundamental analysis
Relevance up to 09:00 UTC--4
The Fed to Hold Rates Despite Pressure
19:49 2025-05-07
Fundamental analysis
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback 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.