empty
23.04.2025 12:59 PM
Bitcoin may resume its uptrend

Bitcoin posted a strong rally yesterday. After breaking through the $90,000 level, the leading cryptocurrency surged toward $94,000, where the advance temporarily stalled. Ether also saw impressive gains. After trading near $1,570 early yesterday, ETH reached $1,800 during today's Asian session.

This image is no longer relevant

This surge in cryptocurrencies followed statements from Donald Trump about lowering tariffs on China, sparking a wave of enthusiasm among investors and analysts. Many also attribute the current rally to Jerome Powell retaining his post as Chair of the Federal Reserve, after Trump announced he had no plans to seek Powell's dismissal. Bitcoin, often seen as "digital gold," remains a favorite as a safe-haven asset, while Ether, with its versatility for decentralized application development, continues to attract interest from tech firms. The recent increase in risk appetite has further supported both assets.

The global M2 liquidity trend in relation to BTC pricing points to a return to a bull market. According to the latest data, the pattern is on track. There remains a robust positive correlation, as BTC continues to follow trends in global liquidity. The influence of global liquidity on crypto markets, especially Bitcoin, is attracting growing attention from analysts and investors. M2, as a broad measure of the money supply, reflects overall capital availability in the economy. When M2 rises, it often signals easier monetary policy, potentially leading to increased investment in risk assets like Bitcoin. While the relationship between M2 and BTC price is not strict, statistically significant correlations have been observed for several years.

It is important to note, however, that many factors affect BTC's price, including regulatory shifts, technological innovation, investor sentiment, and broader macroeconomic trends. So, while the correlation with M2 helps in understanding market direction, it should not be the sole basis for investment decisions.

This image is no longer relevant

Currently, buyers are aiming to reclaim the $94,300 level, which would open the way to $95,600, and from there, a move toward $97,100 is within reach. The ultimate upside target is around $99,000. Breaking through this would mark an end to the bear market. If Bitcoin falls, buying interest is expected around $93,000. Dropping below this area could quickly send BTC down to $91,600, with the farthest downside target at $90,500.

This image is no longer relevant

A solid close above $1,800 for ETH paves the way to $1,833. The ultimate target is the $1,868 high. Surpassing it would signal the end of the bear market for Ether. If Ether declines, buyers are likely to emerge around $1,765. A drop below this level could push ETH swiftly down to $1,727, with the farthest support at $1,690.

Jakub Novak,
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
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

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

JPMorgan Chase & Co. plans to launch its own stablecoin

JPMorgan Chase & Co., the largest US bank by assets and market capitalization, has filed a trademark application for what appears to be a new blockchain-based asset called JPMD, sparking

Jakub Novak 11:25 2025-06-17 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 17

Bitcoin dropped from $108,700 to $106,000, while Ethereum fell from a high of $2,676 to $2,525 before slightly recovering. While crypto traders anticipate a sustained bullish trend and a potential

Miroslaw Bawulski 09:04 2025-06-17 UTC+2

What are odds of BTC trading at $150K by August?

For several days, Bitcoin hovered above the $105,000 level, seemingly waiting. But today, it broke through. We've witnessed a classic consolidation phase ahead of a possible price surge

Ekaterina Kiseleva 17:22 2025-06-16 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

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.