Bitcoin Stalls Below $100K Amid Market Uncertainty
Bitcoin’s rally has hit a roadblock. After surging past key levels following Donald Trump’s election win, the price now lingers below $100,000. Traders remain cautious as the market anticipates a significant announcement from Trump’s administration. Despite the earlier momentum, Bitcoin’s sideways movement suggests uncertainty is creeping in.
Price Suppression Concerns and Death Cross Warning
Samson Mow, CEO of Jan3, raised concerns about potential “price suppression.” Speaking at the Consensus Hong Kong conference, he noted that Bitcoin’s price appears “manufactured.” Technical analysts are also sounding alarms. Bitcoin nears a dreaded “death cross,” where a short-term trend dips below a longer-term trend—often seen as a bearish signal.
JPMorgan Highlights Weakening Institutional Demand
JPMorgan analysts added fuel to the bearish outlook. Their research points to a decline in institutional demand for Bitcoin and Ethereum futures. Futures prices could even drop below spot prices, a troubling scenario last seen in mid-2024. This development suggests big-money players are pulling back, weakening market confidence.
Key Support Levels and Potential Crash Targets
Tyler Richey from Sevens Report Research warns that Bitcoin’s support sits at $91,500. If it breaks this level, prices could plunge to around $73,400—the peak seen earlier in 2024. The Fear and Greed Index has also slid into “fear” territory, indicating growing market anxiety.
ETF Developments and Global Adoption Efforts
While market sentiment weakens, global adoption continues. Abu Dhabi’s $1 trillion wealth fund recently invested $436 million in BlackRock’s Bitcoin ETF. Despite this bullish move, U.S. spot Bitcoin ETFs have seen outflows after months of gains. BlackRock’s iShares Bitcoin Trust leads with $60 billion in assets but cannot prevent the market’s shift to caution.
What’s Next for Bitcoin?
Bitcoin faces a critical moment. With institutional demand weakening and technical indicators flashing warnings, traders should stay alert. If support levels fail, a sharp drop could follow. However, global adoption efforts may offer long-term support. In the short term, caution remains key.
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