Bitcoin Price Prediction as It Bounces Off $25,800 Support: Which Next Target?

Bitcoin Price Prediction as It Bounces Off $25,800 Support: Which Next Target?

by Eden Merion
1 min read
Prédiction du prix du Bitcoin alors qu’il rebondit sur le support de 25 800 $ : quelle prochaine cible ?

While Bitcoin experienced a rebound from the $25,800 support levelinvestors are eagerly awaiting the next trend in the leading cryptocurrency.

With market sentiment changing, experts are now looking at the potential price targets and provide for the trajectory of Bitcoin in the near future.

Find out in this article the latest information on the Bitcoin price prediction and in which direction it could go next.

Bitcoin is trading at $26,829, increasing by 1.88%, this Saturday. After falling for 8 consecutive sessions, the prices of the BTC/USD pair finally started to recover losses mainly due to the price correction.

Fidelity Investment Director Highlights Bitcoin’s Potential

Jurrien Timmer, Global Macro Director of Fidelity Investments, suggests that Bitcoin is now closely aligned with goldbut it warns of potential overvaluation around the $30,000 level.

Timmer’s analysis reveals two negative correlations: one between Bitcoin and the real two-year TIPS yield at 88%, and another at 63% between Bitcoin and the PCE-derived real rate.

Drawing on data since 2018, this correlation study compares Bitcoin to gold in terms of response to real rate factors. Timmer also highlights the role of Bitcoin inasmuch as powerful hedge against inflation, similar to gold.

According to Michael Saylor, the importance of Bitcoin lies in its individual ownership

According Michael Saylor, Executive Chairman of MicroStrategy, one of the reasons individuals acquire bitcoin is because they see it as a moral obligation and a vital asset to society.

Saylor argues that traditional money is in decline and highlights instances of financial turmoil in Africa, South America and Asia.

Even well-established fiat currencies face an uncertain future, according to Saylor. He believes banks and fiat currencies are losing public trust due to rising inflation and a crisis of confidence.

Saylor believes people are embracing digital currency because of their diminishing faith in conventional fiat currencies.

He argues that commodities such as gold, oil and real estate are not sufficiently adaptable to everyday transactions compared to alternative options.

Therefore, Bitcoin serves as an essential currency for all types of transactions and provides a solution to the growing financial challenges of the world.

These remarks from Saylor helped Bitcoin regain some of its previous losses this Saturday.

Declining Bitcoin Liquidity on Binance

According AubertA analyst at Kaikothere Bitcoin liquidity on Binance has dropped significantly since early Februaryrising from around $45 million to $16 million in early May.

Binance’s campaign halt for 10 months with no fees for 13 BTC pairings was the main reason for the drop in liquidity, leading to investors leaving the platform.

Aubert further notes that the monthly trading volumes for the most popular pair, BTC-USDTare from $16 billion in March to $2 billion in April.

The liquidity drain was particularly visible after the wave of bank collapses earlier this year, affecting various companies including Ripple, Circle, Yuga Labs and others, due to the failure of banks that acted as on-ramps to market, such as Silicon Valley Bank and Silvergate.

Bitcoin Price Drops Below $27,000 Amid Meme Mania and Binance Congestion

Bitcoin, the leading cryptocurrency by market capitalization, saw a drop of more than 6% in the past few days, dropping below the $27,000 mark.

This decline occurred while investors are seeing the rise in popularity of the PEPE meme coin and the temporary suspension of bitcoin withdrawals on Binance due to congestion issues.

After Binance restored service the next day, Bitcoin price disruptions and surge have raised concerns about the implications of a high volume of Bitcoin transactions.

There reduced availability of Bitcoins for short-term transactionsas more are held for longer durations, could potentially lead to increased volatility or higher trading costs due to wider spreads.

With a fixed supply of Bitcoins, there remains fewer coins available for public sale. In the event of an increase in demand for bitcoin, this could put upward pressure on prices.

The price of bitcoin

Bitcoin is this Saturday at the price of $26,800 and, from a technical point of view, he discovered a ssupport close to the $26,300 levelwhich effectively halted its decline.

With the break of the $26,800 support level on the four-hour chart, it now becomes a potential barrier for Bitcoin, acting as a resistance level.

The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), important technical indicators, are currently showing oversold conditions. That suggests that if Bitcoin maintains a level above $26,000, there is a strong possibility of an upside rally towards $27,800 or $27,500.

However, it is important to note that the 50-day exponential moving average (EMA) constitutes a barrier significant resistance around $27,500, indicating that the bearish sentiment persists.

Bitcoin Price Chart – Source: Tradingview

It is important to monitor the level of $26,000 as a critical pivot point for Bitcoin.

If Bitcoin manages to stay above this level, it could potentially test the next resistance levels at $27,500 or $28,400.

On the other hand, if the downward trend continues, the next support should be seen around the 50% Fibonacci retracement level of $25,300.

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Disclaimer: This linked article presents the views of crypto industry players and is not part of the editorial content of

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