Bitcoin Stuck In 90-Day Consolidation Range: This Juncture Is Critical, Bitfinex Analysts Say

Bitcoin BTC/USD has been stuck in a range between $91,000 and $102,000 for over 90 days, with market momentum struggling to break out, according to a report from Bitfinex.

Analysts describe the situation as a “critical juncture,” as the asset faces multiple macroeconomic and industry-specific pressures.

What Happened: Over the past week, Bitcoin exhibited high volatility, particularly on Feb. 21, when its price dropped 4.7% to nearly $95,000 following news of the Bybit hack and a sell-off in S&P 500 options expiry.

Despite recovering over the weekend, Bitcoin has yet to retest its all-time high from earlier in 2025.

The report highlights a slowdown in institutional demand, with Bitcoin ETF inflows turning into net outflows.

Feb. 20 alone saw $360 million withdrawn from Bitcoin ETFs, reversing a trend that had peaked at 18,000 BTC per day in November 2024.

The decline in ETF inflows, coupled with reduced leveraged trading activity, points to an overall contraction in market participation.

“Bitcoin remains at a critical juncture after nearly 90 days of consolidation,” Bitfinex analysts noted, emphasizing that future price movements will likely be shaped by macroeconomic conditions and institutional engagement.

The downturn in Bitcoin and other cryptocurrencies has been exacerbated by macroeconomic uncertainty, with the S&P 500 struggling to maintain a rally above the 6,000 level.

Also Read: SEC Drops Investigation Into Robinhood’s Crypto Unit

The broader risk-asset decline has impacted speculative participation, leading to a contraction across multiple crypto assets.

Ethereum ETH/USD has fallen 16.9% in February, while Solana SOL/USD has dropped 33.1%, reflecting a cooling market after a strong rally in late 2024.

Meme coins, which saw a surge in December, have also declined 37.4%.

Adding to industry concerns, Bybit suffered a $1.5 billion hack, one of the largest security breaches in crypto history.

While Bybit has assured users of its solvency, the attack raises questions about security protocols and the increasing sophistication of cyber threats.

What’s Next: Meanwhile, regulatory developments continue to shape market sentiment.

The confirmation of Howard Lutnick as U.S. Secretary of Commerce signals potential policy shifts.

Lutnick, a known supporter of Bitcoin and an investor in Tether USDT/USD, is expected to advocate for less restrictive regulations, which could benefit institutional adoption.

Bitcoin's near-term trajectory remains uncertain, with analysts pointing to a combination of macroeconomic trends, institutional sentiment, and security concerns as key drivers.

The market remains in a phase of contraction, with traders awaiting a decisive move that could either push Bitcoin above its all-time high or lead to further corrections.

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