Bitcoin (BTC) experienced a brief dip overnight but managed to return above the $26,000 mark on May 25. BTC/USD was trading within the previous day’s range and recovered from flash weakness after the daily candle close. Analysts looked for potential volatility catalysts as no exciting developments were present in spot markets. While the day’s macroeconomic reports from the US, which included GDP estimates for Q2 and jobless claims, failed to affect things too much, traders and analysts remained alert. If BTC/USD can reclaim its previous range by managing to reclaim $26,600, that would act as a springboard. If not, analysts warn that the bearish outcome could slowly but surely become a reality.
Bitcoin losing its 200-week trendline puts $20K in play — BTC price analysis
