Despite Bitcoin's relative price stability and the renewed support from factors such as the US banking crisis, the digital asset has not managed to break the resistance level at $30,000 yet. Market analysts are closely monitoring the price trajectory of the maiden cryptocurrency anticipating a parabolic rally in the near future that could lead to a new all-time high before 2025.

Technical analysis of Bitcoin confirms some bearish sentiment, yet it does not negate the belief that the asset is on the right track to push beyond the $30,000 resistance level. Additionally, factors such as the upcoming halving and possible regulatory clarity may become foundations for a new all-time high.

Recent news of increased regulatory scrutiny in the industry, however, has added to the uncertainty in the crypto markets. For instance, mining company Marathon Digital has received a subpoena from the US Securities & Exchange Commission raising questions related to federal securities laws violation through related-party transactions.

At the same time, the crypto community is busy speculating the future of Bitcoin with Finbold predicting a possible drop in price to approximately $24,753 on May 31. According to one-day technical gauges from TradingView, the bearish sentiment persists, with the recommended sentiment being "sell" at 11 and the moving averages indicating a "sell" sentiment at 9.

Despite all the talk about Bitcoin possibly plunging yet again, the digital asset is maintaining a stable trading trajectory trying to break through the $27,000 support level in order to reach the desired $30,000 mark, and potentially lead to a new record high.



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