Bitcoin Faces Key Moment After 3 Months of Market Slump

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After more than 90 days of consolidating between $91,000 and $102,000, BTC has fallen below the $88,000 range.

Over the past 90 days, bitcoin (BTC) has been in a state of consolidation, hovering between the $91,000 and $102,000 range. Analysts at the crypto exchange Bitfinex have revealed that the cryptocurrency is currently at a “critical juncture” after this prolonged trading pattern.

According to the market experts, Bitcoin’s next major move will likely be determined by macroeconomic trends – this scenario appears to be playing out already, as BTC has fallen below $87,000.

Bitcoin at a Critical Juncture

With the market in a contraction phase, institutional interest in Bitcoin and Ethereum has slowed, as seen in spot exchange-traded fund (ETF) flows from last week. ETF flows have fallen from 45,000 coins purchased per day to 1,000 in the past week. Bitcoin ETFs experienced outflows every day last week, with negative flows surpassing $360 million on Thursday.


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