The post Is a Rebound on the Horizon? appeared on BitcoinEthereumNews.com.

After spending most of February trading within a range, Bitcoin (BTC) has broken below the consolidation zone, slipping under $90,000 for the first time since November. The leading coin now trades at $88,956. This downturn signals growing bearish pressure, raising concerns that the decline could extend further into March. Range-Bound or Breakout? Experts Weigh In According to Brian, lead analyst at Santiment, Bitcoin whales continue to reduce their trading activity, increasing the likelihood of a further decline in the coin’s value. “Bitcoin whales seem to have taken a bit of a breather and aren’t accumulating at the moment (mostly staying flat),” Brian told BeInCrypto. The decline in Bitcoin’s large holders’ netflow corroborates Brian’s position. According to IntoTheBlock, the metric has plummeted by over 600% in the past 30 days. Bitcoin Large Holders Netflow. Source: IntoTheBlock. Large holders refer to whale addresses that hold more than 0.1% of an asset’s circulating supply. Their netflow tracks the amount of coins they buy and sell over a specific period.  When it falls, these key investors are reducing their token holdings, signaling increased selling activity. This may exacerbate the downward pressure on BTC’s price as supply increases in the market.  For John Glover, Ledn’s Chief Investment Officer (CIO), BTC will likely remain range-bound between $89,000 and $108,000 in March.  “From a technical perspective, BTC is following 1 of 2 paths. In the first place, there is a good potential for a dip to $89,000 or even $77,000 before the next rally. In the second, we have already seen the lows, and the next move will be higher, up to ~$130,000.  It’s impossible to predict which path we’re on, and short-term predictions are meaningless when intraweek/intra-month moves are dictated by news and, recently, by the actions of big players like Strategy. My personal view is that we…

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Filed under: News - @ February 26, 2025 6:17 pm