15-3-2025 – Bitcoin’s market behaviour continues to perplex analysts, with striking parallels emerging between current patterns and earlier market movements from 2024.
Market observers are closely monitoring an intriguing development in the cryptocurrency sphere, where Bitcoin’s trajectory has taken a notably complex turn. After achieving an unprecedented peak of $109,000 during President Trump’s inauguration, the digital currency has exhibited what experts term a “High and Tight Flag” formation, though this pattern’s traditional bullish implications appear increasingly ambiguous.
The American cryptocurrency landscape has witnessed a substantial exodus of capital from spot Bitcoin ETFs since March’s dawn, with withdrawals surpassing $1.66 billion. This outflow phenomenon, according to 10x Research’s chief cryptocurrency analyst Markus Thielen, largely stems from hedge funds employing arbitrage strategies amidst persistently tepid funding rates.
Trading at $84,290, Bitcoin finds itself grappling with a 23% decline from its January zenith, whilst facing mounting pressure from broader economic uncertainties. The looming spectre of proposed American tariffs under Trump’s administration has cast additional shadows over market sentiment.
BitMEX’s co-founder Arthur Hayes has voiced concerns about potential further declines, suggesting that failure to maintain the $78,000 threshold could trigger a descent towards $75,000. Some market participants, however, identify potential support emerging near the lower $70,000 bracket.
The cryptocurrency’s recent price action mirrors its earlier behaviour from March, when it achieved its previous record of $73,679 before entering a prolonged $20,000 trading range that persisted until the American electoral period sparked renewed volatility.
Nexo analyst Iliya Kalchev offers a measured perspective, suggesting that the lower $70,000 range might serve as a foundation for eventual market recovery, despite present headwinds. Meanwhile, Thielen advocates a cautious approach, recommending traders consider closing short positions whilst acknowledging the absence of robust recovery signals.
