Bitcoin Price Struggles Due To ‘Absence Of Positive Catalysts,’ Coinbase Analysts Reveal
The post Bitcoin Price Struggles Due To ‘Absence Of Positive Catalysts,’ Coinbase Analysts Reveal appeared on BitcoinEthereumNews.com.
The Bitcoin price started 2025 with an uninspiring performance in January, moving mostly sideways throughout the month. The premier cryptocurrency’s negative start to February — dropping around $92,000 on the first day — was a sign of what’s to come later in the month. The Bitcoin price has since slipped beneath $80,000, posting one of its worst February performances in recent years. While several experts have shared their thoughts and analysis on this market downturn, analysts at crypto exchange Coinbase are among the latest to weigh on the latest Bitcoin February record. Bitcoin’s Weekly Decline: What’s Causing The Drop? In the latest market report, Coinbase analysts David Han and David Duong revealed that the crypto and Bitcoin markets are in a somewhat uncertain state. This shift in the market condition follows the $1.4 billion Bybit hack and the decline in the macroeconomic environment. According to Coinbase analysts, the latest trade tariff news and decline in the Consumer Sentiment Index impacted the crypto and United States stock markets earlier in the week. However, the equities market bounced back due to improved investor sentiment after the US House of Representatives approved the year’s budget during the week. The Bitcoin price, on the other hand, didn’t show this same level of resilience in the last seven-day period, struggling to reclaim some of its crucial psychological levels above the $95,000 level. Now, the flagship cryptocurrency trades just above the $80,000 mark, reflecting an over 12% decline in the past week. Han and Duong believe that the failure of the Bitcoin price from the early-week blues was due to the absence of positive near-term catalysts for the crypto space. Additionally, the analysts highlighted the lack of technical support within the $80,000 – $95,000 region. Source: SoSoValue The current weak investor sentiment is spotlighted by the…
Filed under: News - @ March 1, 2025 1:16 pm