Bitcoin Price Stabilizes Around $83,917 as Futures Sentiment Declines
Bitcoin (BTC) has increased from $74,000 in November 2024 to $101,000 by February 2025. Despite this price rise, futures market sentiment remains low.
Key Points
- BTC price dropped after US President Trump's tariff announcements, reaching a local bottom of $74,508 on April 6.
- Current trading range for BTC is mid-$80,000s.
- Futures sentiment index has declined since February, currently at 0.4, indicating bearish sentiment.
- Market concerns include macroeconomic uncertainty and regulatory issues.
- If sentiment stays low, BTC could see price consolidation or downward pressure.
- On-chain metrics suggest BTC may be undervalued; indicators show a potential bullish trend toward $100,000.
- Risks include the recent 'death cross' on price charts and ongoing trade tariff concerns.
- BTC is trading at $83,917, down 1.8% in the past 24 hours.
