Bitfinex Report: Bitcoin has been consolidating for nearly 90 days, with market momentum remaining stagnant

BlockBeats News, February 25th, Bitfinex released a report stating, "Bitcoin has maintained a range-bound state over the past week, fluctuating between $91,000 and $102,000 over the past 90 days, with market momentum remaining stagnant.

The downward trend has been influenced by macroeconomic uncertainty and the increasing correlation between Bitcoin and traditional markets. The S&P 500 failed to break through 6,000 points, leading to a decrease in risk appetite, further suppressing speculative participation in risk assets.

Institutional demand has significantly slowed down. Bitcoin ETF inflows peaked at 18,000 bitcoins per day in November 2024, and net outflows have occurred since then, with $360 million withdrawn on February 20th alone.

This decrease in institutional participation, coupled with a sharp decline in leveraged trading activity, indicates that the market is undergoing a more widespread contraction.

Bitcoin is currently at a crucial crossroads, and after nearly 90 days of consolidation, market participants are awaiting a catalyst. The next major move in Bitcoin is likely to be influenced by macroeconomic trends and may have significant implications."