Bitcoin (BTC) continues to trade within a tight range, fluctuating between $75,000 and $88,000, as traders assess the market’s next move. After briefly touching $85,000 on Wednesday, BTC faced rejection, pulling back slightly after a 3.16% recovery the previous day.
According to a recent report by K33 Research, the crypto and equity markets have taken a cautious stance ahead of former U.S. President Donald Trump’s “Liberation Day”—an event expected to bring new tariffs and potential economic shifts.
Bitcoin ETFs Show Weak Demand
Adding to the uncertainty, spot Bitcoin ETFs in the U.S. recorded a significant $157.8 million outflow on Tuesday. This signals declining investor confidence in the short term, despite Bitcoin’s overall strong performance in recent months.
Altcoins See Big Whale Transactions
While Bitcoin remains in consolidation, some altcoins are witnessing major activity. On-chain data from Santiment reveals that Maker (MKR), Gala (GALA), and Polygon (MATIC) have experienced a surge in whale transactions over $100K. This increased activity suggests that large investors are still moving funds, even as the broader market remains cautious.
Market Outlook: A Period of Pause or Prepping for a Move?
The total crypto market cap remains near $2.7 trillion, showing little change over the past 24 hours. Some analysts believe this stagnation is a sign of traders waiting for more clarity before making big moves. If the market cap drops below $2.62 trillion, it could indicate further downside, allowing bears to take control.
For now, Bitcoin continues to consolidate, with traders watching key resistance and support levels to determine the next big move. Will BTC break out, or are we in for a deeper correction? Time will tell.
