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Bitcoin's Price Rebounds and Tests Short-Term Resistance, but Downtrend May Not Be Over

Bitcoin's price has risen from its weekly low of $25,000 and is testing short-term resistance at $26,400 for the second time this month. The Moving Average Convergence Divergence (MACD) indicator suggests that expected gains to $28,000 may be sustained this time. However, some analysts believe that there is still room for another dip, potentially to $22,000, before a bull market. The crypto market is experiencing shrinking liquidity due to concerns about regulation and the popularity of DeFi and staking platforms.

Ripple is hiring most of its staff outside of the US, which may be related to the SEC's actions, and Bitcoin's active addresses have reached a 5-month high, raising questions about a potential price rally. The upcoming US CPI inflation report may also impact Bitcoin's recovery to $28,000.

Bitcoin Bitcoin $93,254.21
-1.82%
Bitcoin Regulation Ripple
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