Bitcoin reached new 15-week lows as U.S. sell pressure added to its price decline.
BTC Price Decline and Bear Market
Bitcoin saw new lows not seen since November 13 as it fell below $86,000 during the February 25 Wall Street opening. With 24-hour crypto liquidations hitting nearly $1.6 billion, market sentiment shifted to 'extreme fear'. The 20% price drop within a month signals a technical bear market, as noted by Barchart.
Market Analysis and Expert Opinions
Trader Rekt Capital highlighted the downside deviation below the ReAccumulation Range, supported by a weekly chart of BTC price structures. Fellow trader TheKingfisher predicted potentially lower levels closer to old all-time highs of $73,800.
Institutional Demand and Macroeconomic Factors
QCP Capital noted that U.S. inflation concerns took a backseat. Major buyers like MicroStrategy leverage equity-linked notes, but as issuance declines, this could diminish institutional demand if spot prices remain flat.
Bitcoin continues to face challenges amid a bear market and macroeconomic pressures. Experts warn of possible reduced institutional demand in the near future.
