Bitcoin (BTC) is currently consolidating above the key threshold of $26,000, which is essential for the world’s largest cryptocurrency to reach higher levels. This recovery on June 15th has given BTC holders hope, as the highly anticipated news of Blackrock, the largest fund manager with over $10 trillion under its management, announces a formal application for a new spot Bitcoin Exchange-Traded Fund (ETF).
Despite the good news, Bitcoin still faces significant resistance if it is to recover its lost ground and solidify a bull run. Crypto analyst WoeToe has recently shared his thoughts on the current state of the Bitcoin market, emphasizing an important level that bulls should keep an eye on. This analyst believes that BTC may set a higher low around the $25,800 level before breaking out of its current channel to the upside. If Bitcoin is able to defend this level and break out of the channel
