Recently, Bitcoin price has remained in a narrow range, accompanied by a neutral stance in the fear and greed index, leading to investor uncertainty.
Why Bitcoin price has stalled
Currently, Bitcoin's price action is indecisive as investors await new catalysts. SoSoValue data indicates a decline in American investors' demand for spot Bitcoin ETFs, confirmed by over $650 million in net outflows over the past four days.
Causes of the current situation
Ongoing geopolitical risks and the potential for prolonged high-interest rates are key factors in the current situation. Investors fear that President Donald Trump's tariffs will spark a trade war, increasing market volatility. Recent inflation data showed an increase in consumer prices from 2.9% in December to 3% in January. This poses a risk to assets like Bitcoin amid the Federal Reserve's hawkish stance.
Bitcoin price technical analysis
The daily chart indicates that Bitcoin's price has remained below $100,000 in recent days and below the 50-day Exponential Moving Average, a bearish signal. A double-top pattern has formed at $108,440. A break below the neckline level at $89,055 points to further downside, with the next support level at $73,613.
Current changes in Bitcoin's price dynamics indicate market uncertainty. Investors are advised to closely monitor external economic factors impacting asset valuations.
