After days of consolidation near the local high, Bitcoin is trying to breakout and challenge the $30,000 level.

Macroeconomic headwinds continue to pressure the crypto market, but bulls appear steadfast on holding $28,000 for support and this could provide tailwinds for altcoins.

The crypto market corrected on news of the CFTC suing Binance and its CEO Changpeng Zhao, but technical charts reveal a silver lining.

Bitcoin continues to trade near $28,000, signaling a strong demand from investors even as the legacy banking system struggles with unprecedented volatility.

Bitcoin and U.S. equities markets are attempting to recover, but selling at overhead resistance could continue to weigh on the bullish momentum.

Bitcoin’s tight consolidation near $25,000 suggests that bulls are holding on to their positions in anticipation of a breakout to a new 2023 high.

Bitcoin and major altcoins look vulnerable to a deeper correction after the crackdown on Paxos soured sentiment across the crypto market.