empty
InstaForex Loprais Team - Official participant of the Dakar rally
InstaForex Loprais Team - Official participant of the Dakar rally
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
19.06.2023 10:25 AM
Bitcoin Recovers Above $26k: Should We Expect Further Growth?
Open trading account Open demo account

Despite an abundance of various negative and worrisome factors, Bitcoin bulls managed to successfully conclude the previous trading week. The asset's price recovered above the $26k mark at a time when it seemed that BTC would permanently disrupt the structure of the upward trend.

This image is no longer relevant

The confident upward movement at the end of last week gives investors hope for a similar price increase at the end of the new trading session. However, it is not advisable to evaluate the local growth of BTC as a reversal of the medium-term trend. There are numerous factors indicating that the bearish trend of the asset is not yet over.

Fundamental Factors

Last week saw two positive events in the global financial arena: a higher-than-expected decrease in inflation in the United States and a pause in raising the key interest rate. Despite all the positivity, the Federal Reserve's statements about a possible resumption of rate hikes are forcing investors to factor in this possibility as early as July.

This image is no longer relevant

The current trading week will also be important in terms of economic events. The next couple of days are expected to be calm in the cryptocurrency market due to the U.S. banking holiday and a national celebration. However, later on, the publication of U.S. unemployment data, Powell's speech, and SEC oversight hearings are expected.

This image is no longer relevant

Regarding the latter, it is worth noting that the likely reason for the green cryptocurrency market over the weekend was an agreement between the SEC and Binance.US, which secures the largest market for the exchange. The CEO of Tether also noted that the company has fulfilled all reporting requirements to the New York Attorney General's office.

This image is no longer relevant

These news items have become an important underlying factor in the emotional confidence of investors in the crypto market. The local saga of good news ended with the appearance of an additional $250 million USDT in the market. It is evident that a portion of these funds ended up in Bitcoin and other cryptocurrencies.

BTC/USD Analysis

Bitcoin resumed its upward movement last Thursday but failed to absorb the bearish volumes from Wednesday. At that time, it seemed that this would inevitably lead to a retest of $25k, but instead, we saw growing buying volumes. As a result, BTC settled above $26k and continues to hold this level, opening the way for further growth.

This image is no longer relevant

Trading volumes as of 08:00 UTC dropped again to $10 billion, indicating a decrease in volatility to local lows. Despite this, the key task for the bulls is to consolidate above $26.8k in order to recover within the consolidation range of $26.6k-$27.5k.

Subsequently, this will allow Bitcoin to continue its upward movement towards $28k. However, as of June 19, the $26.8k level remains untouched, and the current trading volumes are insufficient for its definitive breakout. Technical indicators indicate that BTC has paused its upward movement.

This image is no longer relevant

Despite this, a "bullish crossover" is forming on the stochastic oscillator and MACD. This suggests an attempt to form a medium-term upward trend. However, without significant growth in trading volumes, it will not be possible to realize this impulse.

This image is no longer relevant

It is also worth not discounting the bears, who may take advantage of the volatility in the second half of the week to achieve their targets. Their primary task is to definitively break the $25.5k-$26k level. This will allow them to return to their main objective, which is to breach the $24.6k-$25k area.

Conclusion

The cryptocurrency market is witnessing a parity between bulls and bears, characterized by a phased and inconclusive price movement. With the current trading volumes, there is no basis to believe that either side will be able to seize the initiative and radically change the situation. As a result, we observe a consolidating movement and rare impulsive movements within the wide range of $24.6k-$26.8k.

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
Fundamental analysis
XAU/USD. Analysis and Forecast Today, gold is attracting new sellers. Amid a sharp escalation in the conflict between Iran and Israel, the United States conducted airstrikes on three Iranian nuclear facilities in Fordow, Natanz
Irina Yanina
17:59 2025-06-23 +02:00
1045
Fundamental analysis
USD/JPY. Analysis and Forecast. The Japanese Yen Maintains an Intraday Bearish Outlook Today, Monday, selling pressure on the Japanese yen dominates, driven by several factors. Traders continue to push back expectations of a potential rate hike by the Bank of Japan, assuming
Irina Yanina
17:56 2025-06-23 +02:00
1045
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

Trading Recommendations for the Cryptocurrency Market on June 23

Bitcoin and Ethereum plummeted following speculation that Iran might block the Strait of Hormuz and begin bombing U.S. oil tankers in retaliation for American strikes. This triggered a massive sell-off
Miroslaw Bawulski 09:07 2025-06-23 UTC+2

Trading tips for crypto market on May 20 (North American session)

Bitcoin and Ether performed well today in terms of buying following a pause in yesterday's bear market. Demand has returned to the cryptocurrency market, especially after geopolitical tensions eased somewhat
Miroslaw Bawulski 16:20 2025-06-20 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 20

Bitcoin continued trading within a sideways channel, dropping to the $104,000 area yesterday before recovering to a more acceptable level of $104,500. Ethereum also showed no clear directional movement. Despite
Miroslaw Bawulski 09:24 2025-06-20 UTC+2

Technical Analysis of Intraday Price Movement of Ripple Cryptocurrency, Friday June 20, 2025.

The Ripple cryptocurrency on its 4-hour chart appears to be moving in a ranging - sideways condition where it is currently stuck at the Support Bullish Rejection Block area level
Arief Makmur 07:45 2025-06-20 UTC+2

Technical Analysis of Intraday Price Movement of Doge Cryptocurrency, Friday June 20, 2025.

From what is seen on the 4-hour chart, the Doge cryptocurrency appears to be moving under a Bearish bias, where this can be seen from its price movement which
Arief Makmur 07:45 2025-06-20 UTC+2

BTC/USD Analysis on June 19, 2025

The wave pattern on the 4-hour BTC/USD chart has become more complex in recent months. A corrective downward structure formed and completed near the $75,000 level. After that, a fairly
Chin Zhao 11:07 2025-06-19 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 19

Yesterday, Bitcoin and Ethereum remained under pressure, failing to receive support from major players despite attempts to break through key resistance levels. After dipping to around $130,400, Bitcoin is currently
Miroslaw Bawulski 08:36 2025-06-19 UTC+2

Wave analysis of BTC/USD on June 18. Bitcoin to clear up its overall impulse

The wave pattern on the 4-hour chart of BTC/USD has become more complicated in recent months. We observed a corrective downward structure that completed near the $75,000 mark. After that
Chin Zhao 15:34 2025-06-18 UTC+2

Middle East Tensions and U.S. Involvement Trigger Crypto Market Sell-Off

Bitcoin came under significant pressure yesterday following the escalation of tensions in the Middle East. The likelihood of U.S. involvement in a military conflict has increased significantly, which puts pressure
Jakub Novak 11:41 2025-06-18 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 18

Bitcoin and Ethereum plunged following the latest escalation in the Middle East and the increasing likelihood that the United States will be drawn into the conflict. Bitcoin dropped from $107,600
Miroslaw Bawulski 09:46 2025-06-18 UTC+2
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.