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
02.06.2023 11:45 AM
Bears dominate BTC market
Open trading account Open demo account

The current week turned out to be volatile for BTC. The two-week consolidation ended with a sharp rise above the $28,000 mark on increased volumes. Then, the asset had every chance of building on success and extending gains.

This image is no longer relevant

However, sellers managed to seize the initiative, and BTC began to decline. As of June 2, the cryptocurrency is trading near the $27,000 level, and the price has almost trimmed all its early gains. Trading volumes remain low, and market sentiment indicates a possible continued decline.

Fundamental factors

Despite growing bearish sentiment among BTC investors, there is every reason to believe that the cryptocurrency will resume growth in the medium term. Firstly, this is indicated by the fact that liquidity has been successfully removed below the $26,000 mark, where long-term investors entered the market in the early spring.

This image is no longer relevant

A deal to raise the US national debt limit is reportedly at the final stage. The bill will now go to President Joe Biden's desk for his signature. In addition to easing tension in the stock and other markets, the entry of this document into legal force means additional liquidity from the US Treasury in the amount of $4 trillion.

This image is no longer relevant

Global financial markets are confident that the US Federal Reserve will keep the key rate unchanged despite the deflationary trend at the end of May. Only 36% of investors expect the regulator to raise interest rates at its June meeting, which gives markets hope for a gradual end to the Fed's hawkish policy.

This image is no longer relevant

The monetary policy of the US central bank has already resulted in regional banks facing the largest outflow of funds since 1984 in the first quarter of 2023. According to FDIC data, customers withdrew more than $470 billion from US banks. In addition, Tether's market capitalization reached $83.2 billion, an all-time high.

BTC/USD analysis

Positive fundamental factors have not yet had an impact on the price of BTC. The cryptocurrency is trading near the $27,000 level, with daily trading volumes at around $14 billion. Buyers managed to retain control of the support level of $26,500. However, the fact that the price has dropped below $27,000, indicates a further decline.

This image is no longer relevant

From a technical point of view, BTC/USD is likely to extend its recovery. The stochastic indicator has formed a bullish crossover, and the RSI is approaching the 50 mark. The MACD continues to move sideways, reflecting a lull in the market.

This image is no longer relevant

Bitcoin is still at the MA100 level, which potentially allows the asset to resume its upward movement. However, at this stage, the downtrend line acts as a strong obstacle to BTC. Trading volumes have not exceeded the $25 billion mark for more than three weeks. However, the situation may change on a batch of upbeat statistics.

Conclusion

The token's sluggish sideways movement is coming to an end. Trading activity is subdued, but things are likely to change soon. Despite positive fundamental factors, bears are expected to make another attempt to reach the $25,000 mark. In the medium term, like the entire crypto market, bitcoin looks bullish.

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 Gold is declining below the $3300 level today. U.S. PCE data met expectations. A shift in trade flows is helping the U.S. dollar regain positive momentum. This is also undermining
Irina Yanina
17:37 2025-05-30 +02:00
1270
Wave analysis
GBP/USD Analysis on May 30, 2025 The wave structure for GBP/USD continues to indicate the development of an upward impulsive wave pattern. The wave pattern is almost identical to that of EUR/USD. Until February
Chin Zhao
17:31 2025-05-30 +02:00
1240
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 investors still overwhelmed by optimism

Despite the ongoing correction, investor sentiment toward buying crypto assets remains positive, as indicated by the so-called Fear & Greed Index, which, as we noted earlier, is still
Jurij Tolin 16:24 2025-05-30 UTC+2

Do you know the most profitable company in the crypto industry?

While Bitcoin and Ethereum saw a fairly solid correction toward the end of the week, the most profitable company in the crypto industry — Tether — may have been quietly
Jakub Novak 16:16 2025-05-30 UTC+2

Trading Recommendations for the Cryptocurrency Market on May 30

Bitcoin and Ethereum continued their corrections, falling significantly throughout yesterday. The decline extended into today's Asian session, with Bitcoin updating its price to $104,500 and Ethereum testing $2,560. Thus
Miroslaw Bawulski 09:29 2025-05-30 UTC+2

Trading tips on crypto market for May 29 (North American session)

Bitcoin has shown a fairly solid rebound, climbing back above the $108,000 mark and breaking through $109,000. The chart below highlights a morning breakout through the $108,100 level. Statistics confirm
Miroslaw Bawulski 15:46 2025-05-29 UTC+2

Bitcoin recovers to $109,000

Bitcoin quickly rebounded to the $109,000 mark today. This rapid surge, especially following yesterday's dip to around $106,600, once again highlights the strong interest from large players who take advantage
Jakub Novak 15:04 2025-05-29 UTC+2

Bitcoin demand shows no signs of fading

Bitcoin demand has shown resilience once again. After a brief dip below the $107,000 mark, the decline was swiftly bought up, demonstrating that buyers remain active and confident
Jakub Novak 13:38 2025-05-29 UTC+2

Trading Recommendations for the Cryptocurrency Market on May 29

Bitcoin is starting a correction, and Ethereum is showing signs of strength. Yesterday, Bitcoin dipped to around $107,000 before rebounding sharply — a sign that many traders are cautious about
Miroslaw Bawulski 08:56 2025-05-29 UTC+2

Bitcoin Emerges from Wall Street's Shadow: Why the Coming Months Could Be Pivotal for the Crypto Market

The announcement that Cantor Fitzgerald, one of the largest U.S. primary dealers, is launching Bitcoin-backed lending has reshaped the crypto market. Managing $2 billion in capital for this venture
Ekaterina Kiseleva 00:31 2025-05-29 UTC+2

Trading Recommendations for the Cryptocurrency Market on May 28

Bitcoin failed to hold above the $110,000 level, while Ethereum again showed decent growth, fueled by news of a possible significant increase in the gas limit per block
Miroslaw Bawulski 10:04 2025-05-28 UTC+2

Bitcoin Remains Within a Range Conducive to Growth

Yesterday, Bitcoin and Ethereum continued to attract demand from traders and investors, maintaining strong prospects for the continuation of the bullish market. Meanwhile, the International Monetary Fund (IMF) stated that
Jakub Novak 09:36 2025-05-28 UTC+2

Top analytics

Relevance up to 04:00 2025-05-31 UTC--4
Forecast for EUR/USD on May 30, 2025
10:58 2025-05-30
Technical analysis
Relevance up to 23:00 2025-05-30 UTC--4
Forecast for USD/JPY on May 30, 2025
05:26 2025-05-30
Technical analysis
Relevance up to 02:00 2025-05-31 UTC--4
USD/JPY: Simple Trading Tips for Beginner Traders on May 30. Review of Yesterday's Forex Trades
08:55 2025-05-30
Forecast
Relevance up to 23:00 2025-05-30 UTC--4
Forecast for EUR/USD on May 30, 2025
05:26 2025-05-30
Technical analysis
Relevance up to 03:00 2025-05-31 UTC--4
Forecast for GBP/USD on May 30, 2025
10:41 2025-05-30
Technical 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.