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
25.05.2023 10:40 AM
Bitcoin updates local low amid Fed statements
Open trading account Open demo account

Over the past one and a half weeks, Bitcoin has been trading within the range of $26.6k to $27.5k, where large order blocks were concentrated. Due to the decrease in trading activity in the crypto market and the improved situation in the stock market, the price of BTC failed to break out of this range.

This image is no longer relevant

At the same time, bearish sentiments prevailed in the market, but they were not sufficient to break out of the volatility corridor. The period of calm was replaced by mild panic in the market after the speeches of the Federal Reserve System members and the announcement of the agency's future plans.

Fed intensifies bearish trend in the BTC market

The statements made by Fed officials can hardly be called positive. Officials noted that they see "uncertainty" in the future of the key interest rate and expressed the general opinion that the indicator may be raised again in the future. Members of the agency also stated that it would be wrong to give investors hope for a rate cut in 2023.

This image is no longer relevant

These Fed statements significantly worsened market expectations since, prior to the public speeches, over 75% of investors were confident in a rate cut already in the summer or fall of 2023. According to FT, market players significantly revised their rate forecasts for 2023 after the officials' statements.

This image is no longer relevant

Adding fuel to the fire, the CEO of Goldman Sachs stated that inflation in the U.S. would be more sustained than forecasted. The banker is also confident that the Federal Reserve will have to raise the key interest rate even higher to reach the 2% baseline. Parallel to these statements, there is a significant reduction in global liquidity.

Bitcoin performs a dangerous bearish reversal

The discouraging statements by the Federal Reserve sparked a surge in volatility in the crypto market, which culminated in a long-awaited breakthrough of the $26.6k level. Bitcoin finally made a bearish breakthrough of the key bullish position and settled below it. This gives the bears the opportunity to push the price down to a low of $25k.

This image is no longer relevant

By the end of yesterday's trading day, the bulls failed to regain the initiative from the bears and push the price back above $27k. Furthermore, the Fed statements worsened the situation, and BTC formed a "bearish engulfing" pattern. The new trading day for Bitcoin also started with a decline, and at one point, the price retested the $25.5k level.

This image is no longer relevant

Buyers managed to defend the threshold and push the price back above $26k. However, there are strong indications that the decline will continue. Technical metrics on the 1D timeframe indicate a sustained downward trend. The stochastic oscillator shows a bearish crossover, and the RSI is moving below the 40 mark.

This image is no longer relevant

Considering the bearish sentiments in the crypto market and the global economy, as well as the minimal horizontal volumes in the $25k–$26.5k range, further downward movement of the cryptocurrency should be expected. The new targets for sellers are now considered to be in the $24.6k–$25k range. If this range is breached, the structure of the BTC upward trend will collapse, opening the way to $23k.

Conclusion

Bitcoin once again demonstrated a high level of dependence on the actions of the Fed. The situation is further complicated by the rapid decline in BTC's market capitalization, which will lead to an increase in bearish sentiments. As we know, the market always goes against the crowd, so it is quite possible that a strong upward impulse awaits us near $25k, especially considering the fact that "whales" have resumed accumulating stablecoins.

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
Analytical News
US Market News Digest for April 9 US stock indices closed lower after the White House announced a new wave of tariffs on Chinese goods. The rate could rise to 104%, a direct hit on imports
Irina Maksimova
12:33 2025-04-09 +02:00
1105
Crypto-currencies
Bitcoin under selling pressure. Why even spike could hardly save bulls Bitcoin is taking a nosedive, funds are reporting losses, and analysts see no reasons for growth. What is happening with the leader of the crypto market? What
Ekaterina Kiseleva
12:07 2025-04-09 +02:00
1210
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

Bitcoin under selling pressure. Why even spike could hardly save bulls

Bitcoin is taking a nosedive, funds are reporting losses, and analysts see no reasons for growth. What is happening with the leader of the crypto market? What
Ekaterina Kiseleva 12:07 2025-04-09 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 9

Bitcoin and Ethereum collapsed by the end of Tuesday, continuing the heavy sell-off during today's Asian session. Another sharp decline in the U.S. stock market dragged other risk assets down
Miroslaw Bawulski 09:22 2025-04-09 UTC+2

Another Cryptocurrency Market Crash

Another collapse in the stock markets has also hit the cryptocurrency market. Investors, fearing further declines, began to massively offload digital assets, which triggered a sharp drop in the prices
Jakub Novak 09:22 2025-04-09 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 8

Bitcoin and Ethereum are gradually recovering after the sharp sell-off earlier this week. The situation in the U.S. stock market and its sharp decline are closely tied to the fall
Miroslaw Bawulski 09:25 2025-04-08 UTC+2

Bitcoin – Technical Analysis Overview

Currently, the market is testing monthly support levels at 79,773 – 75,446. A consolidation below this area would give bears control over these levels and invalidate the Ichimoku weekly golden
Evangelos Poulakis 07:36 2025-04-08 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 4

Bitcoin and Ethereum were able to withstand significant pressure again, which was exerted on them yesterday in the latter part of the day following a substantial sell-off in the U.S
Miroslaw Bawulski 09:09 2025-04-04 UTC+2

Bitcoin again loses battle

Both Bitcoin and Ethereum asserted their strength for a while yesterday in the midst of the US session before Trump's statements and the introduction of tariffs. However, demand for risk
Jakub Novak 11:36 2025-04-03 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 3

Bitcoin and Ethereum rose even before Trump's decision and the announcement of trade tariffs, but pressure on risk assets increased significantly afterward. It's hard to say that the newly announced
Miroslaw Bawulski 09:02 2025-04-03 UTC+2

BTC/USD Analysis. April 2nd. Bitcoin Is Also Afraid of Trump's Tariffs

The wave pattern on the 4-hour BTC/USD chart is clear. After completing a bullish trend composed of five full waves, a downward corrective phase began, which is still in progress
Chin Zhao 12:17 2025-04-02 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 2

Bitcoin and Ethereum are holding their ground ahead of a major event that could reshape the global trading landscape. Another failed attempt by Bitcoin to settle above the $85,500 level
Miroslaw Bawulski 08:50 2025-04-02 UTC+2

Top analytics

Relevance up to 20:00 2025-04-09 UTC--4
GBP/USD Overview. April 9. Disinformation, Rumors, Fakes, and Opinions
02:55 2025-04-09
Fundamental analysis
Relevance up to 04:00 2025-04-11 UTC--4
EUR/USD and GBP/USD – Technical Analysis for April 9
10:07 2025-04-09
Technical analysis
Relevance up to 05:00 2025-04-23 UTC--4
"Golden" Forecasts: Gold at $3,500, $3,700 – Higher and Higher?
11:07 2025-04-09
News
Relevance up to 22:00 2025-04-09 UTC--4
EUR/USD Forecast for April 9, 2025
04:31 2025-04-09
Technical analysis
Relevance up to 02:00 2025-04-10 UTC--4
USD/JPY: Simple Trading Tips for Beginner Traders on April 9. Review of Yesterday's Forex Trades
08:45 2025-04-09
Forecast
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.