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Bitcoin Poised to Rebound to $25.5K, Analyst Says, Here's Why

Thu, 06/15/2023 - 15:10
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Yuri Molchan
Analyst believes BTC may well reclaim recently lost price levels, while Glassnode also provides bullish Bitcoin data
Bitcoin Poised to Rebound to $25.5K, Analyst Says, Here's Why
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Crypto analyst and trader Ali Martinez shared a bullish forecast on his Twitter handle. He believes that the flagship cryptocurrency Bitcoin is likely to rebound as the TD Sequential indicator has shown a buy signal on a Bitcoin one-hour chart and a bullish divergence against the RSI.

If Bitcoin manages to hold above the $24,800 level, Martinez tweeted, it is possible to expect an upswing to $25,300 or even as high as $25,500.

Bitcoin's illiquid supply keeps growing

Glassnode on-chain data provider has shared that the crypto community continues to accumulate BTC and move these coins to illiquid wallets. Per the recent tweet, the illiquid supply of Bitcoin keeps growing, and more than 119,000 BTC is added to cold wallets every month.

This, concludes the Glassnode analytics team, indicates that the primary market dynamic at the moment is HODLing BTC.

Bitcoin (BTC) Reacts to Latest Fed Rate Decision

Bitcoin responds to recent Fed decision

As covered by U.Today recently, Fed Chairman Jerome Powell announced that the bank intends to put its strategy of rate hiking on hold. Despite the fact that the crypto community has been looking forward to that step, Bitcoin pulled back to a low of $25,900 within just several minutes.

This proves that the crypto market remains very sensitive to macroeconomic changes even if they are pretty much expected.

At the time of this writing, Bitcoin is changing hands at $25,040, having dropped 3.63% within the last 24 hours, according to the data shared by CoinMarketCap.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at