Daily Price Outlook

Bitcoin takes the stage at $26,447, delivering a smooth 0.47% decline in the past 24 hours. The beats are alive with a trading volume of $9.4 billion, showcasing an energetic market groove. Holding its crown as the top cryptocurrency, Bitcoin shines with a lively market capitalization of $513,244,474,171.

With 19,406,312 coins swaying in circulation and a maximum supply of 21,000,000 BTC coins, Bitcoin’s dance continues in the cryptocurrency market. A mind-blowing 9.50 billion dollars in USD are traded every day, keeping the dance floor alive.

With 19.41 million coins rocking the market, bitcoin has experienced a slight dip of 0.66 percent over the past 24 hours.

In an epic turn of events, the recent price crash of Bitcoin lured in the whales, who couldn’t resist the temptation of grabbing BTC at a discounted price.

On April 19, bitcoin took a sudden nosedive, sending shockwaves throughout the market. However, this dramatic fall became the perfect opportunity for savvy buyers to enter and ignite a comeback rally.

Now, Bitcoin is ready to shake off its recent losses and reclaim its spot in the limelight. BTC has taken flight after plunging to a local low of $24,825 on June 15, soaring 8% to its current price of $26,452.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Technical Analysis

The BTC/USD pair recently hit the dance floor, completing a 50% Fibonacci retracement at the sensational level of 26,600.

A whimsical tweezer top pattern emerges on the daily timeframe, signaling a possible shift in the bullish vibes and hinting at the potential for a price drop if it stays below the resistance at 26,600.

As we dive deeper into the daily timeframe, the beats get stronger. The 50-day exponential moving average and a sassy downward trend line team up to fortify the dance floor at 26,600.

These dynamic duos create a choreographed routine of significant obstacles for Bitcoin at this electrifying level.

Daily Price Outlook

• Bitcoin grooves at $26,447, with a 0.47% decline and a lively trading volume of $9.4 billion.
• The BTC/USD pair showcases a sensational move, completing a 50% Fibonacci retracement at 26,600, with a whimsical tweezer top pattern hinting at a potential price drop.
• The dance floor intensifies as the 50-day exponential moving average and a sassy downward trend line join forces to fortify the resistance at 26,600 for Bitcoin’s performance.

Bitcoin takes the stage at $26,447, delivering a smooth 0.47% decline in the past 24 hours. The beats are alive with a trading volume of $9.4 billion, showcasing an energetic market groove.

Holding its crown as the top cryptocurrency, Bitcoin shines with a lively market capitalization of $513,244,474,171 USD. With 19,406,312 coins swaying in circulation and a maximum supply of 21,000,000 BTC coins, Bitcoin’s dance continues in the cryptocurrency market.

The BTC/USD pair recently hit the dance floor, completing a 50% Fibonacci retracement at the sensational level of 26,600.

A whimsical tweezer top pattern emerges on the daily timeframe, signaling a possible shift in the bullish vibes and hinting at the potential for a price drop if it stays below the resistance at 26,600.

As we dive deeper into the daily timeframe, the beats get stronger. The 50-day exponential moving average and a sassy downward trend line team up to fortify the dance floor at 26,600.

These dynamic duos create a choreographed routine of significant obstacles for Bitcoin at this electrifying level.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Trade Idea

Entry Price –– Buy Above 26250

Stop Loss – 25660

Take Profit – 27375

Risk to Reward – 1 : 1.90

Profit & Loss Per Standard Lot = +$1120/ -$590

Profit & Loss Per Micro Lot = +$112/ -$59

Daily Price Outlook

• Bitcoin ($BTC) consolidating after failing to break resistance at $25,600
• Support level at $24,750 formed a bullish hammer candlestick, indicating possible reversal
• Monitoring $25,600 level crucial; RSI and MACD showing mixed signals

On the technical front, the cryptocurrency Bitcoin ($BTC) is currently showing a minor consolidation after failing to break above the resistance level at $25,600. Observing the four-hour timeframe, Bitcoin tested the support level at $24,750 and formed a bullish hammer candlestick, suggesting a possible reversal in the market.

The subsequent candlestick closed above the support level at $24,750, indicating potential bullish momentum.

It is worth noting that Bitcoin has already completed a 38.2% Fibonacci retracement around the $25,600 level. The inability to surpass this level may limit further upward movement.

Additionally, the $25,600 level previously acted as a triple bottom support on June 5, June 6, and June 10, which could provide resistance to Bitcoin’s price.

Monitoring the key level of $25,600 is crucial. As long as Bitcoin remains above this level, the bullish sentiment may continue. However, the relative strength index (RSI) and moving average convergence divergence (MACD) are showing mixed signals.

The RSI is below 50, indicating a bearish bias, but it has recently bounced above the zero line, entering the buying zone. The MACD is also crossing above its signal line, supporting the possibility of a bullish continuation.

If Bitcoin manages to break through the $25,600 level, it could potentially target the resistance levels at $26,000 and $26,250. On the downside, immediate support for Bitcoin is seen around $25,150 and $24,750.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Trade Idea

Entry Price – Sell Below 25550

Stop Loss – 25850

Take Profit – 25000

Risk to Reward – 1 : 1.8

Profit & Loss Per Standard Lot = +$550/ -$300

Profit & Loss Per Micro Lot = +$55/ -$30

Daily Price Outlook

Bitcoin is currently priced at $25,480.98 per bitcoin (USD), with a market capitalization of $494.42 billion. The daily trading volume is $15.63 billion, and the real-time BTC to USD price is continuously updated. Over the past 24 hours, Bitcoin has gained 1.56%, with 19.40 million coins in circulation.

However, the outlook for Bitcoin’s price is facing potential depreciation as the stock market rally follows a familiar pattern. The cryptocurrency market’s total capitalization is rapidly dropping below $1 trillion, while the S&P 500 index has experienced a more than 15% increase since its previous low in March. This suggests a possible decline for BTC.

The correlation between the price of Bitcoin and the stock market has shifted in recent weeks. Earlier this year, BTC performed well while the S&P 500 index declined due to issues with US banks.

However, the current situation shows the stock market flourishing while Bitcoin’s price falls to a three-month low below $25,000. The correlation between the two markets has reached its lowest level since December 2022, with a negative correlation coefficient of -0.55.

Economist Dan Gambardello notes a similar event occurred in 2019 when Bitcoin’s price dropped by approximately 34% while the stock market rose. However, the Bitcoin market eventually recovered, debunking the notion that it had been left behind by the stock market.

In related news, BlackRock, an international investment management company with $8.59 trillion in assets under management, is taking steps to apply to a Bitcoin exchange-traded fund (ETF).

Despite the regulatory uncertainties surrounding cryptocurrencies, BlackRock plans to use Coinbase Custody, a cryptocurrency custodial service, and rely on the exchange’s spot market data for pricing, according to a source familiar.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Technical Analysis

From a technical perspective, Bitcoin ($BTC) is currently experiencing a period of consolidation following its failure to surpass the resistance level of $25,600. During the four-hour timeframe, Bitcoin tested the support level at $24,750 and formed a bullish hammer candlestick, indicating a potential market reversal.

The subsequent candlestick closed above the support level, suggesting the presence of bullish momentum. It is important to note that Bitcoin has already completed a 38.2% Fibonacci retracement around the $25,600 level. The inability to break above this level may impede further upward movement.

Moreover, the $25,600 level previously acted as a strong support on multiple occasions, which could now act as resistance to Bitcoin’s price.

The bullish sentiment will likely persist as long as Bitcoin remains above this level. However, the relative strength index (RSI) and moving average convergence divergence (MACD) display mixed signals.

The RSI is below 50, indicating a bearish bias, but it has recently bounced above the zero line, entering the buying zone. The MACD also crosses above its signal line, supporting the potential for a bullish continuation.

If Bitcoin successfully breaks through the $25,600 level, it could target resistance levels at $26,000 and $26,250. On the downside, immediate support levels for Bitcoin are observed at $25,150 and $24,750.

Daily Price Outlook

• Bitcoin faces resistance at $26,250 and support near $25,500, as per technical analysis.
• The 50-day EMA provides support around $25,800, but a descending triangle pattern suggests bearish sentiment.
• Breaking below $25,500 may increase selling pressure, targeting support levels at $24,940, $24,710, or $24,385.

Bitcoin faces resistance at $26,250 and finds support near $25,500, according to technical analysis. The range of $26,180 to $25,500 will determine its next move. Indicators like RSI and MACD show uncertainty in investor sentiment.

The 50-day EMA acts as support around $25,800, but a descending triangle pattern suggests bearish sentiment. Breaking below $25,500 could increase selling pressure, leading to support at $24,940, $24,710, or $24,385.

Traders watch the upcoming FOMC meeting and Fed Rate announcement for potential impact on Bitcoin’s price.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Trade Ideas

Entry Price – Buy Above 25750

Stop Loss – 25315

Take Profit – 26360

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$610/ -$435

Profit & Loss Per Micro Lot = +$61/ -$43

Daily Price Outlook

The current value of Bitcoin is $25,915.40 (BTC/USD), with a market capitalization of $502.80 billion. The daily trading volume reaches $13.01 billion in USD. Bitcoin has experienced a 0.56% loss in the past 24 hours, while maintaining a circulating supply of 19.40 million coins.

Interestingly, despite the regulatory crackdown on the cryptocurrency sector by the US Securities and Exchange Commission (SEC) and a global crypto winter in 2023, Bitcoin has added around 50,000 new millionaires this year. The number of addresses holding more than $1 million worth of Bitcoin has significantly increased.

While regulatory scrutiny led to capital outflows from altcoins, it has contributed to Bitcoin’s growing dominance. Bitcoin and altcoins, such as Binance and Coinbase, have responded differently to the SEC’s actions due to Bitcoin’s strength in the face of regulatory challenges.

Despite recent turbulence in the cryptocurrency ecosystem, Bitcoin has managed to hold above the $26,000 mark. In 2023 alone, it is projected to create 47,994 new millionaires as its price has increased by 59.7% against the US dollar since the beginning of the year.

The number of BTC-holding wallet addresses with a value of at least $1 million has grown from 28,084 on January 5 to 76,078, representing a 170% increase in the number of Bitcoin millionaires.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Technical Analysis

Bitcoin faces resistance at $26,250 and finds support near $25,500, according to technical analysis. The range of $26,180 to $25,500 will determine its next move. Indicators like RSI and MACD show uncertainty in investor sentiment.

The 50-day EMA acts as support around $25,800, but a descending triangle pattern suggests bearish sentiment. Breaking below $25,500 could increase selling pressure, leading to support at $24,940, $24,710, or $24,385.

Traders watch the upcoming FOMC meeting and Fed Rate announcement for potential impact on Bitcoin’s price.

Daily Price Outlook

The live price of Bitcoin stands at $25,858.92 per BTC/USD, with a market capitalization of $501.66 billion USD. The daily trading volume is $11.56 billion USD, and the 24-hour performance of Bitcoin shows a modest increase of +0.24%.

As the US Securities and Exchange Commission (SEC) intensifies its regulatory crackdown on cryptocurrencies, over $100 billion has been wiped off the market cap. However, amidst this turbulence, Bitcoin whales, the large holders of the cryptocurrency, are strategically accumulating BTC in anticipation of a strong rebound.

Data from the cryptocurrency intelligence tracker Santiment reveals that Bitcoin whales are acquiring approximately 1,000 BTC worth $25.75 million per day. These large wallet addresses on the Bitcoin network have accumulated an additional 57,578 BTC during the recent price decline of 10% from April 9 to June 9.

The SEC’s regulatory actions have significantly impacted the market capitalization of alternative currencies, leading to a rise in Bitcoin’s dominance. According to CoinGecko, Bitcoin’s market share has increased from 44.21% to 45.69%. This rise in BTC power, combined with the ongoing accumulation by whales, bodes well for the asset’s future.

These positive factors have the potential to drive a price surge in Bitcoin. Presently priced at $25,746, Bitcoin has experienced a 5.2% decline in the past week and stands at 62.7% below its all-time high of $69,044.

Despite the ongoing crypto bloodbath that has impacted various altcoins, Bitcoin hodlers, known for their long-term investment approach, remain steadfast. They continue to accumulate BTC, with data from Glassnode indicating a monthly acquisition rate of 37,400 tokens.

The growth of Bitcoin, coupled with the hodlers’ commitment to retain their investments, signifies a bullish outlook. With limited selling pressure from these long-term investors, Bitcoin’s resilience shines through in the face of market volatility.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Trade Idea

Let’s focus our attention on Bitcoin, currently priced at $25,806, with a robust 24-hour trading volume of $11.46 billion. Despite a minor 1% decline, Bitcoin remains a dominant force, boasting a market cap of approximately $500.6 billion.

Examining the technical charts, Bitcoin encounters strong resistance at $26,180, while finding support near $25,400. This support level plays a crucial role, acting as a safeguard against further downward movement on the four-hour chart.

Now, let’s explore what lies ahead. The market appears uncertain, with observers eagerly anticipating Bitcoin’s next decisive move. Candlestick patterns and indicators like RSI and MACD depict a sense of indecision, much like a chess player contemplating their next move.

Adding to the complexity, the 50-day EMA presents an additional hurdle, positioned around $25,900 as yet another resistance level. Bitcoin cautiously navigates through these circumstances.

It’s worth monitoring the descending triangle pattern, which suggests a potential bearish sentiment. A breach below $25,400 could set Bitcoin on a downward trajectory, with possible support levels at $24,950, $24,700, or $24,400.

Daily Price Outlook

• Bitcoin remains steady at $25,806, boasting a 24-hour trading volume of $11.46 billion and a robust market cap of around $500.6 billion.
• Technically, Bitcoin grapples with a $26,180 resistance and relies on $25,400 support, while uncertain candlesticks and RSI and MACD fluctuations indicate market indecision.
• Watch for a descending triangle pattern that hints at bearishness; if Bitcoin drops below $25,400, it might retreat towards $24,950, $24,700, or $24,400.

Alright, folks, let’s zoom in on Bitcoin, which is currently trading at $25,806, with a bustling 24-hour trading volume of $11.46 billion. Though it has taken a modest 1% dip, Bitcoin still reigns supreme, sitting on a throne with a market cap of roughly $500.6 billion.

As we dissect the technical charts, Bitcoin is facing a sturdy resistance at $26,180, and it’s leaning on support near $25,400. The latter is playing a significant role, acting like a cushion preventing Bitcoin from slipping further on the four-hour chart.

Now, let’s talk about what’s next. The market is somewhat in limbo, as the crypto-enthusiasts watch with bated breath for Bitcoin to make a decisive move. The candlestick patterns, along with indicators like RSI and MACD, are somewhat indecisive, akin to a chess player contemplating the next move.

What’s more, the 50-day EMA is not making it any easier, as it’s positioned at around $25,900, setting another resistance line. Bitcoin is navigating these waters cautiously.

However, we should keep an eye on the descending triangle pattern which hints at a possible bearish sentiment. If Bitcoin slips below $25,400, it might have to face a downhill slope with potential pit stops at $24,950, $24,700, or $24,400.

The crypto-landscape is ever-evolving, and Bitcoin is no stranger to twists and turns. Let’s keep a close eye on the charts as this intriguing story unfolds.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Trade Idea

Entry Price – Sell Limit 26161

Stop Loss – 26478

Take Profit – 25426

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$735/ -$317

Profit & Loss Per Micro Lot = +$73/ -$31

Daily Price Outlook

The current price of Bitcoin stands at $26,466.97, with a 24-hour trading volume of $11,797,944,376. Bitcoin has seen a slight increase of 0.01% over the past 24 hours. As the leading cryptocurrency, Bitcoin has been unable to break free from its consolidation phase and is currently trading above the $26,000 level.

This lack of significant movement could be attributed to the bearish sentiment prevailing in the crypto market, which has been impacted by recent regulatory actions taken by the United States Securities and Exchange Commission (SEC) against major exchanges like Binance and Coinbase.

Additionally, concerns surrounding inflation and central bank policies have added to the crypto market’s uncertainty. Despite these challenges, Bitcoin has shown relative stability by holding its position above $26,000 recently.

If Bitcoin manages to surpass the resistance level at $26,750 successfully, there is potential for a substantial price increase. However, it is important to consider the regulatory developments, inflation concerns, and central bank actions that currently shape the crypto market.

Bitcoin’s performance will be closely monitored as it strives to overcome resistance levels and regain momentum in this complex landscape.

Impact of Regulatory Concerns and Outflows on Bitcoin Price

Recent data from Glassnode indicates a slight increase in the number of short-term Bitcoin holders selling their coins. However, this increase is less significant than the peak levels observed after major events last year. Around 0.82% of Bitcoin held by short-term holders is being sent to cryptocurrency exchanges.

Although this percentage has risen, it remains lower than the peak inflows seen during the collapse of TerraLUNA and the FTX exchange.

On the other hand, the recent regulatory actions taken by the US Securities and Exchange Commission (SEC) against Binance.US and Coinbase have resulted in significant outflows from Binance.

This trend of outflows can be attributed to investor panic triggered by asset freezes and the delisting of advanced trading pairs involving BTC and BUSD.

As a result, the increased inflows from short-term Bitcoin holders and substantial outflows from Binance, driven by regulatory concerns, have contributed to downward pressure on Bitcoin’s price in recent days, resulting in a decline of approximately 2.31% over the past five days.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Technical Outlook

Bitcoin has discovered a level of support around the $26,200 mark, indicated by the formation of doji and hammer candles. This indicates a potential weakening of the bearish sentiment and signs of exhaustion among sellers.

The $26,200 level is becoming a strong support zone for Bitcoin, but there is a discrepancy between the RSI and MACD indicators. The RSI is in the oversold zone, while the MACD suggests a buy zone.

Bitcoin is facing resistance near the $26,500 level, primarily due to the presence of the 50-day exponential moving average. This resistance is adding pressure to Bitcoin’s price, so it is advisable to wait for a breakout from the current trading range.

A breakdown below the $26,200 level could lead to further downward movement, potentially targeting the $25,400 level.

On the flip side, a confirmed breakout from the current range could present selling opportunities, with a potential target around $24,750.

If Bitcoin manages to hold above the $26,200 level, it could set its sights on resistance levels at $26,000 and $27,400. Breaking through the resistance at $26,500 is crucial for further upward movement.

Daily Price Outlook

Bitcoin is currently trading at $26,367.11 per BTC/USD, with a market capitalization of $511.41 billion. The daily trading volume for Bitcoin amounts to $17.26 billion. The price of BTC to USD is updated in real-time, and on the previous day, Bitcoin experienced a 2.03% loss.

Although it is widely believed that the regulatory actions against cryptocurrencies in the United States will have minimal impact, Bitcoin’s price continues to trade below a slow-moving simple moving average (SMA), indicating a lack of buyer activity. This sentiment has also affected other top cryptocurrencies like Ethereum (ETH) and Ripple (XRP).

The current situation of Bitcoin’s price is still uncertain. Following the regulatory actions taken against Binance, Bitcoin experienced a 10% decline. However, it has rebounded and is currently finding support at the 50-day SMA at around $27,618. It is worth noting that this support level has been breached since May 7.

Unless bulls can turn the 50-day SMA into support, selling pressure from this level might prevent Bitcoin’s price from retesting the local multi-week support at $25,659. Breaking above the supply zone marked by the red band on the chart would require significant momentum. Bullish attempts are expected to face resistance due to selling pressure from this area.

Furthermore, declining momentum is indicated by the Relative Strength Index (RSI) heading south, suggesting that BTC investors and traders may need to wait longer for a clear direction.

Despite the SEC’s attempts to freeze Binance, the Bitcoin price has recovered to $27,000, relieving investors. Initially impacted by Bitcoin’s price drop, the market has bounced back, but the SEC’s actions against Binance continue.

At the time of writing, the price of one bitcoin is $27,365, offering reassurance to investors after it dipped to around $25,000 just a day ago. This rebound was necessary to prevent panic selling from triggering another price drop.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Technical Outlook

During the Asian trading session, Bitcoin experienced a bounce and found support around the $26,200 level. This support was indicated by the formation of doji and hammer candlestick patterns, signaling a potential weakening of the bearish sentiment and exhaustion among sellers.

The $26,200 level is proving to be a strong support zone for Bitcoin. However, there is a divergence between the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators. The RSI is in the oversold zone, suggesting a possible buying opportunity, while the MACD is indicating a buy zone.

Bitcoin is facing resistance near the 50-day exponential moving average, which is currently around $26,500. This adds further pressure to the cryptocurrency. It is advisable to wait for a breakout from the current trading range before considering any trading positions.

If Bitcoin breaks below the $26,200 support level, it could potentially lead to further downward movement towards $25,400. On the other hand, a confirmed breakout above the resistance level could provide selling opportunities, with potential targets around $24,750.

If Bitcoin manages to hold above the $26,200 support level, it could aim for resistance levels at $26,000 and $27,400. Breaking through the $26,500 resistance level is crucial for further bullish momentum.

The current candlestick patterns, particularly the hammer candle, indicate that investors are uncertain about the cryptocurrency’s trend. It is important to monitor any fundamental events that may impact the price of Bitcoin.