Bitcoin set to break through

Expert market comment from senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Bitcoin set to break through
FxPro | 1205 days ago

Market Picture

Bitcoin continues its attempts to break through resistance at $25K. Volatility was muted on Monday as the primary driver of it - US equity markets – was closed yesterday. Cryptocurrency market capitalisation rose 1.2%.

According to CoinShares, investments in cryptocurrencies fell by $32 million last week, the second consecutive week of declines and the highest in seven weeks. Investments in Bitcoin fell by $25 million and Ethereum by $7 million. Investment in funds that allow to short bitcoin increased by $4 million.

Despite bitcoin's unsuccessful attempts to consolidate above $25K, intraday pullbacks from this resistance are becoming smaller, indicating a continued buying-the-dip pattern. A break above $25K is only a matter of time, potentially opening the door to $28K.

News Background

Galois Capital, one of the world's largest cryptocurrency-focused hedge funds, announced its closure. The fund lost around half of its capital after the FTX collapse.

The next cryptocurrency bull market will start in the East. The US will only have two options: embrace cryptocurrencies or be left behind, said Gemini exchange co-founder Cameron Winklevoss. Such comments came amid moves by US regulators against cryptocurrency companies.

The G20's Financial Stability Board (FSB) intends to draw up standards for cryptocurrency regulation by July.

Hong Kong will allow retail investors to trade cryptocurrencies on exchanges. Trading venues will be subject to mandatory licensing.

Meanwhile, Binance's introduction of a zero fee for bitcoin trading and the collapse of the FTX exchange allowed it to capture 98% of the BTC spot trading market.

The FxPro Expert Analyst Team 

FxPro
Tips: NDD
Regulation: FCA (UK), SCB (The Bahamas)
read more
EUR/USD – ECB Day: The Hike Is Certain, The Reaction Is Not

EUR/USD – ECB Day: The Hike Is Certain, The Reaction Is Not

The ECB's quarter-point hike to 2.25% is virtually certain, but that won't move EUR/USD—it's already priced in. The real catalyst comes when Lagarde speaks 30 minutes later. Will she signal more hikes ahead, or frame this as a one-off response to weak growth? That tone decides whether the euro rallies or drops despite the hike.
Born2trade | 45 minutes ago
US-Iran Tensions Escalate Anew; Focus Shifts to ECB Rate Hike

US-Iran Tensions Escalate Anew; Focus Shifts to ECB Rate Hike

On Wednesday, US stock indices dropped by over 1%, with the Dow down 1.87%, the S&P 500 down 1.62%, and the Nasdaq losing 1.98%. Concerns over US-Iran tensions unsettled investors, even as CPI met expectations. US Treasury yields rose slightly, the dollar slipped 0.1%, and spot gold fell over 4% to $4,073.46, the lowest since March 23. Crude prices rose above $90 per barrel amid renewed friction.
ATFX | 3h 53min ago
Oil Holds Steady Despite Escalating US-Iran Conflict

Oil Holds Steady Despite Escalating US-Iran Conflict

Iran shoots down US helicopter near Hormuz, triggering retaliatory strikes — yet markets shrug, WTI holds at $89. Gold drops below $4,200 as CPI looms; Citi warns of $3,500 if Hormuz stays shut. ADP cools to 29K/week. DXY steady near 100.00. US CPI and BoC rate decision due today.
CPT Markets | 4h 21min ago
Why Oil Prices Remain Under Pressure?

Why Oil Prices Remain Under Pressure?

Oil prices continue to soften due to some points: the US is drawing heavily on its strategic reserves, consumers are reducing fuel demand, and exporters are increasing supplies. Meanwhile, China is easing global energy tensions by cutting imports and purchasing only cheaper crude. But could these buffers last long enough to prevent the next supply-driven rally?
Headway | 16h 47min ago