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
06.01.2023 03:03 PM
Bitcoin consolidation movement continues ahead of U.S. macro statistics: will volatility rise?
Open trading account Open demo account

Bitcoin continues its flat movement after the implementation of a local bullish impulse. Following the results of a short-term surge in trading activity, BTC/USD quotes reached the level of $16.8k. As of January 6, the cryptocurrency continues to consolidate near this mark.

Following the results of January 5, the price did not make significant price movements and remained near the $16.8k level. Thus, buyers failed to realize the bullish momentum as seen on the daily Bitcoin chart.

Ahead of the weekend, the cryptocurrency also has a low chance of moving beyond the $16.4k–$16.9k range. Trading volumes and the number of unique addresses in the BTC network remain near a local low. Over the weekend, trading activity will fall even lower, so significant price movements should not be expect.

Negative factors

That said, there have been several high-profile headlines over the past two days that could worsen the cryptocurrency market in the medium term. Federal Reserve officials commented on the agency's future policy and the fate of the key rate.

This image is no longer relevant

Minneapolis Fed President Neel Kashkari said it is worth pausing to raise the key rate when the indicator reaches 5.4%. At the same time, Kashkari noted that there are no plans to ease monetary policy and reduce the key rate in 2023.

Galaxy Research analysts announced a difficult 2023 for crypto startups. According to the head of firmwide research, Alex Thorn, the volume of investment by venture capital firms in web3 and blockchain projects will decrease significantly in 2023. Thorn believes that the downward trend will continue until the end of 2023, when the macroeconomic situation begins to improve.

This image is no longer relevant

Meanwhile, macro data in the U.S. portends a challenging year for the global economy. Nonfarm Payrolls data was 235,000 against the forecast of 150,000. This indicate a gradual deterioration in the U.S. economy and rising unemployment.

BTC/USD Analysis

In technical terms, Bitcoin quotes are not of particular interest, as the asset is systematically moving in a flat. However, the Fed's statement and statistics on the labor market may change the balance of power in the stock market and, accordingly, the crypto market.

This image is no longer relevant

In addition, today, January 6, the second set of U.S. labor market data is released. And regardless of the indicators, the result will have a negative color. If unemployment starts to grow in the main indices, this will mean the gradual entry of the U.S. economy into a recession phase.

If the labor market remains strong, it will untie the hands of the Fed for further key rate hikes. In the near future, it is likely that the labor market indicators will influence the Fed's policy.

This image is no longer relevant

For Bitcoin and the cryptocurrency market, this statistic can be a reason to activate trading activity and significant price movements. Since volumes remain low, there is a possibility of movement in either direction, and the main catalyst for this will be the actions of the market maker.

Results

The situation on the cryptocurrency market is not changing dramatically, and it is unlikely to change in the near future. Therefore, forecasts for long and short ideas on Bitcoin remain valid. If the cryptocurrency gains a foothold above $16.9k, the asset will continue to move to the $17k–$17.4k level.

This image is no longer relevant

If the $16.4k level is broken, Bitcoin will resume its downward movement towards the $16k psychological support level. However, in the current environment, even high-profile newsworthy events are not enough to intensify trading activity in the market. This means that in 90% of cases, the impulse price movements will be manipulative and false.

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
Analytical News
When it all went wrong: Nvidia under pressure, stocks fall, Powell waits for clarity Powell says economy slowing in Q1, may wait for more clarity European stocks slip ahead of ECB policy decision Nvidia warns of blame over US chip export restrictions to China
Thomas Frank
10:27 2025-04-17 +02:00
1105
Fundamental analysis
Markets swing between euphoria and panic If you believe a recession is looming, the rule is simple: sell first, ask questions later. When the National Bureau of Economic Research officially declared a recession in the United
Marek Petkovich
09:55 2025-04-17 +02:00
1120
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

Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Thursday April 17, 2025.

After successfully exiting the Ascending Broadening Wedge pattern on the 4-hour chart of the Litecoin cryptocurrency followed by the appearance of Divergence between the Litecoin price movement and the Stochastic
Arief Makmur 06:40 2025-04-17 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 16

Pressure on the cryptocurrency market returned yesterday after traders and investors triggered a sell-off in the U.S. stock market. As I've noted repeatedly, the correlation between these two markets
Miroslaw Bawulski 09:01 2025-04-16 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 15

Bitcoin strengthened its position fairly well, nearly reaching the 86,000 level. Ethereum also showed gains but lost them by the end of the U.S. trading session. With easing tensions over
Miroslaw Bawulski 09:08 2025-04-15 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 14

Over the past weekend, Bitcoin and Ethereum demonstrated decent resilience, maintaining a chance for further recovery. While from a technical standpoint, those chances may appear rather slim, trading within
Miroslaw Bawulski 09:12 2025-04-14 UTC+2

Bitcoin – Technical Analysis Overview

Last trading week, the market indicated a potential opportunity for bulls to regain control. Whether this potential is realized now depends on whether the bulls can exit the previous consolidation
Evangelos Poulakis 06:37 2025-04-14 UTC+2

Trump makes another step towards crypto market

Bitcoin and Ethereum plunged late yesterday but then managed to recover their positions. For now, the bears still have more strength than the buyers, but this may only be temporary
Jakub Novak 16:38 2025-04-11 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 11

Bitcoin and Ethereum dropped in value toward the end of Thursday's U.S. session but recovered during today's Asian trading hours. It has become common practice that the crypto market declined
Miroslaw Bawulski 09:28 2025-04-11 UTC+2

Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday April 11, 2025

With the appearance of divergence between the price movement of the Polkadot cryptocurrency and the Stochastic Oscillator indicator on its 4-hour chart, as long as there is no weakening correction
Arief Makmur 08:52 2025-04-11 UTC+2

Technical Analysis of Intraday Price Movement of Uniswap Cryptocurrency, Friday April 11, 2025.

From what is seen on the 4-hour chart of the Uniswap cryptocurrency, there appears to be a divergence between the Uniswap price movement and the Stochastic Oscillator indicator, so based
Arief Makmur 08:52 2025-04-11 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 10

Bitcoin and Ethereum both surged, gaining between 6% and 10% on news that Trump had suddenly changed his mind. A strong wave of FOMO is evident in BTC following news
Miroslaw Bawulski 08:05 2025-04-10 UTC+2

Top analytics

Relevance up to 00:00 2025-04-19 UTC--4
Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday April 17, 2025.
06:27 2025-04-17
Technical analysis
Relevance up to 00:00 2025-04-18 UTC--4
USD/JPY: Simple Trading Tips for Beginner Traders on April 17th – Forex Trade Review
11:19 2025-04-17
Forecast
Relevance up to 23:00 2025-04-17 UTC--4
EUR/USD Forecast for April 17, 2025
11:07 2025-04-17
Technical analysis
Relevance up to 22:00 2025-04-17 UTC--4
GBP/USD Forecast for April 17, 2025
11:02 2025-04-17
Technical analysis
Relevance up to 04:00 2025-04-18 UTC--4
When it all went wrong: Nvidia under pressure, stocks fall, Powell waits for clarity
10:27 2025-04-17
News
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.