Why is the price of bitcoin stuck?

Bitcoin (Btc) The price has been combined with a nearly $ 5,500 range since March 9 as the level of $ 84,000 represents the hard resistance to the overhead.

Data from Cointelegraph Markets Pro And BitStamp shows the price of BTC who is oscillating between $ 78,599 and $ 84,000, as shown in the chart below.

Basic reasons why the price of bitcoin remains flat now includes:

• The tensions in the war of the Trump that cause uncertainty in the market.

• Demand weakening for Bitcoin and neutral funding rates.

• The BTC price remains pinned below the 200-day SMA.

Greater economic uncertainty, weakening demand

Bitcoin price disruption is partly due to greater economic and geopolitical factors currently played.

What to know:

• Trump’s new policiesLike her Suggested Tariffs on Trade In Mexico and Canada, the market is —unnerved.

• Investors, careful in inflation concerns and a potential tariff war, have avoided risk assets such as Bitcoin.

• As cointelegraph recently —the only reportedBitcoin’s post-trump election has lost steam in the midst of a weak global economy.

• This resulted in a weaker demand for Bitcoin, According to In the glassnode.

For example, the basis of the cost of 1W-1M short-term holders has been flatted above the longer holders (1m-3m) in Q1, “marking an early sign of weakening demand in the immediate term.”

Related: Bitcoin price decreases by 2% while inflation down

Bitcoin’s downfall below the $ 95,000 level saw the 1W -1M slide basis below the 1M -3M cost basis, “proving the transition to net capital outflows.”

Glassnode mentioned:

“This reflection suggests that Macro’s uncertainty has demand demand, reducing new flows … and suggests that new buyers are now hesitant to absorb the seller’s pressure, strengthening the transition from post-athoria to a more careful market environment.”

Until the current trend changes due to macroeconomic tailwinds, such as fed rate cuts, bitcoin may persist to break the current range, leaving it weak in Pullbacks toward $ 70,000.

Another clear signal of Bitcoin’s disruption is at the forever funding rates of futures. BTC funding rates, which reflect the cost of handling a long or short position in crypto futures, walks near 0%, indicating increasing lack of ignorance to entrepreneurs.

Without fuel -free fuel, Bitcoin finds it difficult to move in either direction, leaving its price to a tight range while entrepreneurs are waiting for the next catalyst.

Bitcoin’s price faced with hard resistance to upside down

Bitcoin also traded below the main resistance areas, as shown in the chart below:

• On March 9, the BTC fell below the 200-day Simple Moving Average (SMA) at $ 83,736.

• This trendline has stifled the latest efforts for a prolonged recovery.

Crypto’s famous Crypto Trades Analyst says that the 200-day SMA will be around $ 83,700 and the 200-day EMA at $ 86,000 are basic levels because they are “solid indicators of mid-long-term trend and overall market strength.”

In other words, the failure to produce a decisive close to the top of the 200-day SMA and flipping into a new support level can lead to a longer combination period for the price of Bitcoin.

This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.