TechFlow news, on February 25, according to Cointelegraph, Bitfinex analysts noted in a report that Bitcoin has been consolidating within the $91,000 to $102,000 range for nearly three months, and the market is currently at a "critical juncture," with market participants awaiting a catalyst. The next major move in Bitcoin could be influenced by macroeconomic trends and may prove decisive. Within the past 24 hours, Bitcoin dropped over 4.5%, falling below $91,000 and reaching its lowest level since late November last year. Over the same period, the total cryptocurrency market capitalization declined from $3.31 trillion to approximately $3.09 trillion, a drop of 8%.
Bitfinex analysts pointed out that Bitcoin's correlation with traditional markets has significantly increased, as the S&P 500 and Nasdaq Composite indices fell 2.3% and 4% respectively over the past five trading sessions. Meanwhile, institutional demand for spot ETFs has clearly slowed, with consecutive weekly outflows totaling $552.5 million as of the week ending February 21. Analysts also mentioned that factors such as declining U.S. consumer confidence, rising inflation expectations, and tariff proposals put forward by Trump are affecting market performance.
