Bitcoin’s price has been stuck under $100,000, even after briefly crossing the milestone following Donald Trump’s election victory. While some analysts believe this is just market consolidation, others—like Samson Mow, CEO of Jan3—are warning that something deeper might be at play.
Speaking at Consensus Hong Kong, Mow suggested that Bitcoin’s sideways price action looks manufactured, raising concerns about price suppression in the market.
“If you look at the price movement, we peak, and then we stay steady and chop sideways. It looks very manufactured.”
‘Death Cross’ and Investor Fear Grow
Adding to the worries, Bitcoin is nearing a ‘Death Cross’, a bearish technical pattern where a shorter-term trend line crosses below a longer-term one, often signaling a potential crash.
Meanwhile, market sentiment is shifting:
🔹 The Crypto Fear & Greed Index has moved into “Fear” territory, reflecting growing caution among investors.
🔹 U.S. Bitcoin ETFs recorded their first net outflows since their explosive debut in January 2024.
🔹 Abu Dhabi’s $1T sovereign wealth fund purchased $436M in BlackRock’s Bitcoin ETF, fueling speculation about global adoption.
Bitcoin ETFs and Institutional Moves
Despite concerns, institutional interest in Bitcoin ETFs remains strong. BlackRock’s iShares Bitcoin Trust (IBIT) alone holds nearly 600,000 BTC, with total U.S. Bitcoin ETF assets surpassing $100 billion in November 2024.
However, recent outflows suggest that some investors are locking in profits or hedging against potential downside risk. Analysts warn that, at current price levels, the market has yet to attract counter-trend traders or sell-off hunters, meaning a bigger move could be ahead.
What’s Next for Bitcoin?
Bitcoin is at a crossroads—it could either break out past $100K, fueled by continued institutional interest, or face a sharp correction if bearish patterns play out.
