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
28.06.2023 02:09 PM
Miners move record amounts of BTC to exchanges: how will this affect the bullish trend outlook?
Open trading account Open demo account

Investor activity in the cryptocurrency market has significantly increased over the past week, and the main digital asset, Bitcoin, reached the $30k level. Currently, the coin is trading in the $30k–$31.5k range and has a good chance of continuing its upward movement to new levels. The positive fundamental and technical factors confirm bullish sentiment, which is necessary for an upward trend.

This image is no longer relevant

However, in the long-term perspective, the cryptocurrency market faces strong restraining factors that limit the possibilities of upward movement for the main asset. The Federal Reserve meeting, where an interest rate hike is expected, as well as the readiness of some investor categories to lock in profits at current levels, are among these factors.

Fed Effect

It is worth noting that, as with the bullish move in April, Bitcoin has lost correlation with all major competitors. SPX is recovering after a correction, and codependency with precious metals tends to -1. Bitcoin is seen as a hedge against current economic events, but even BTC is affected by the Fed.

This image is no longer relevant

The positive statements from Fed Chairman Jerome Powell regarding cryptocurrencies were neutralized by his commitment to the current monetary policy. As we have already noted, investors are confident in a rate hike at the July meeting. These expectations give rise to a new wave of negative analysis: HSBC reports that a recession will hit the U.S. this year, and Morgan Stanley notes the overheating of the SPX index.

This image is no longer relevant

At this stage, the overall economic context does not significantly affect the cryptocurrency market, but as the Fed meeting approaches, the influence will grow. For Bitcoin and other assets, this will mean a gradual decrease in trading activity and the beginning of another period of accumulation/redistribution with a parallel decline in price.

Are crypto investors willing to settle for less?

From a fundamental point of view, Bitcoin remains a sought-after and valuable asset for long-term investors. However, increased activity is observed among certain investor categories who are likely preparing for a price decline in the medium term and are ready to lock in profits.

This image is no longer relevant

First and foremost, this refers to short-term investors depositing BTC on exchanges in large numbers. However, their influence on the cryptocurrency price will not be as significant as that of miners. Over the past seven days, Bitcoin miners have sent a record $127 million worth of BTC to exchanges. Taking these facts into account, a local correction in Bitcoin can be expected in the medium term.

BTC/USD Analysis

As of June 28, Bitcoin made another attempt to break through the $31k level with daily trading volumes of $16 billion. At one point, the price reached $31k, but subsequently, sellers managed to push bulls back to the $30.5k level. As of 11:00 UTC, bears are increasing the pressure, causing BTC to decline to $30.2k.

This image is no longer relevant

Technical metrics on the daily chart indicate the formation of a downward trend for BTC. The stochastic indicator is experiencing a bearish crossover, while the RSI has already exited the overbought zone and continues to decline. At the same time, the MACD is showing a flat dynamic. In the near future, Bitcoin may undergo a retest of the important support level at $29.8k–$30k.

This image is no longer relevant

For Bitcoin, the current decline is a typical scenario, as bears prevail in the Asian markets. In the second half of the day, a change in intraday dynamics and a recovery in BTC/USD quotes can be expected.

This image is no longer relevant

Overall, Bitcoin is actively testing the $31k level, and there are all reasons to believe that the current week will end with at least a bullish break of this level and local trading above it.

Conclusion

Bitcoin maintains its bullish potential and has every chance of completing the assault on the $31k level this week. Bearish pressure does not pose a real threat to the current range of fluctuations between $29.8k and $31.5k. However, as BTC approaches the Federal Reserve meeting and the pace of price growth slows down, the situation will change in favor of the bears.

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
Forecast
USD/JPY: Simple Trading Tips for Beginner Traders on June 12 (U.S. Session) The test of the 143.75 price level in the first half of the day occurred when the MACD indicator had already significantly declined from the zero line, which limited
Jakub Novak
13:32 2025-06-12 +02:00
2020
Forecast
GBP/USD: Simple Trading Tips for Beginner Traders on June 12 (U.S. Session) The test of the 1.3570 price level during the first half of the day coincided with the MACD indicator just beginning to move down from the zero line, confirming
Jakub Novak
13:31 2025-06-12 +02:00
2080
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

Trading Recommendations for the Cryptocurrency Market on June 12

Bitcoin and Ethereum experienced a notable pullback after another unsuccessful attempt to rally. Bitcoin could not retest its all-time high, and Ethereum could not surpass the $2900 mark. U.S. Treasury
Miroslaw Bawulski 09:10 2025-06-12 UTC+2

Solana spot ETF around corner

Right now, Solana is in the spotlight for traders. According to the latest reports, the US Securities and Exchange Commission (SEC) has requested that potential Solana ETF issuers submit amended
Jakub Novak 16:23 2025-06-11 UTC+2

The Crypto Winter Is Becoming a Thing of the Past

Bitcoin is showing strong growth and came within a step of reaching a new all-time high. However, it's important to understand that taking this final step will be quite challenging
Jakub Novak 10:18 2025-06-11 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 11

Bitcoin is undergoing a correction following yesterday's rapid surge to the $110,500 area, while Ethereum remains vibrant—having gained over 6% yesterday and currently trading at $2,785. Given such a strong
Miroslaw Bawulski 09:01 2025-06-11 UTC+2

Bitcoin Resumes Growth — And There Are Reasons Behind It

Bitcoin has resumed its upward movement, pulling other cryptocurrency assets along with it. Today's rise during the Asian session clearly points to a breakout of several major technical resistance levels
Jakub Novak 10:12 2025-06-10 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 10

Bitcoin has finally broken through the $107,000 level, and during today's Asian trading session, it surged rapidly to around $110,000, stopping just a step away from updating its all-time high
Miroslaw Bawulski 09:30 2025-06-10 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 9

Bitcoin has reached its recently favored level of $106,500 again, even though Friday's U.S. labor market data did not support this rise. Ethereum also strengthened over the weekend, but today's
Miroslaw Bawulski 09:21 2025-06-09 UTC+2

Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Thursday June 05, 2025.

On the 4-hour chart of the Litecoin cryptocurrency, there is an appearance of a Descending Broadening Wedge pattern which indicates that there will be a strengthening in the near future
Arief Makmur 09:53 2025-06-05 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 5

Bitcoin is struggling to reach $106,000 less frequently and is dropping toward $104,000 more often, which is a rather concerning short-term signal. Sooner or later, this pattern could lead
Miroslaw Bawulski 09:20 2025-06-05 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 4

Bitcoin and Ethereum keep trying to break through key resistance levels but continue to face the same obstacle. On one hand, this suggests a cautious approach by major market players
Miroslaw Bawulski 09:19 2025-06-04 UTC+2

Top analytics

Relevance up to 06:00 2025-06-13 UTC--5
GBP/USD: Simple Trading Tips for Beginner Traders on June 12 (U.S. Session)
13:31 2025-06-12
Forecast
Relevance up to 21:00 2025-06-12 UTC--5
EUR/USD Forecast for June 12, 2025
04:40 2025-06-12
Technical analysis
Relevance up to 02:00 2025-06-13 UTC--5
Trump Threatens Tariffs Again – Markets React
09:10 2025-06-12
Fundamental analysis
Relevance up to 19:00 2025-06-12 UTC--5
EUR/USD Overview – June 12: Is There Light at the End of the Tunnel?
04:07 2025-06-12
Fundamental analysis
Relevance up to 03:00 2025-06-14 UTC--5
The Fed Is Right—It's Too Early to Cut Rates (I Expect a Decline in #SPX and an Increase in Gold Prices)
10:37 2025-06-12
Fundamental analysis
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.