TechFlow news, March 6 — Bitcoin failed to sustain its recent breakout above the psychological $90,000 mark, with analysts citing macroeconomic uncertainty and reduced institutional investment, according to Cointelegraph. After rebounding nearly 10% to above $95,000 on March 2, Bitcoin formed a double-top pattern on the daily chart, a formation typically signaling an impending price decline.
Ryan Lee, Chief Analyst at Bitget Research, said: "Significant outflows from spot Bitcoin ETFs have intensified selling pressure. Institutional investors may be pulling back due to macroeconomic uncertainty and shifting risk sentiment." Data shows U.S. spot Bitcoin ETFs have recorded net outflows for four consecutive weeks, with over $2.6 billion in net outflows during the final week of February.
Lee added: "Trump's announced new tariff policies have heightened concerns over inflation and economic stability, prompting investors to favor safer assets over high-risk investments like Bitcoin." Nonetheless, analysts remain optimistic about Bitcoin’s price trajectory later in 2025, forecasting prices above $160,000 to $180,000.
Iliya Kalchev, analyst at Nexo, noted that U.S. Commerce Secretary Howard Lutnick indicated an agreement to reduce tariffs on Canada and Mexico could be announced as early as next Wednesday, potentially alleviating some concerns over a global trade war.
