After the fateful Terra (LUNA) crash for the entire cryptocurrency industry, bitcoin is trying to regain lost ground these days.

According to Simon Peters, a crypto asset analyst at eToro, “investors are now watching to see how the major players in the crypto space can maintain their levels going forward.” But as crypto-asset transactions among major global financial institutions continue, there may be further improvement in the sector despite the challenges.

To recap: bitcoin suffered losses this week after falling 15% the previous week. Overall, bitcoin lost 20% of its value in May.

Javier Molina, a representative of eToro in Spain, notes that if we look from a technical point of view, now is a very delicate moment for BTC: it is under pressure in the area of $29 thousand – $30 thousand, but because of the strong pessimism, it seems to keep the way to the key benchmark of $20 thousand.

“Although BTC has bounced upwards from the $25k level, it has already been damaged and there is a high risk of a reversion back to the previous mark. However, it now seems that BTC at $30k will trade at a premium and investors are waiting for guidance to drive it.”

“The $35k mark is the first resistance that bitcoin needs to overcome. It should not miss this week’s lows, and in case of an attack on the resistance zone, volume should be monitored going back to last weekend’s lows,” Molina concludes.