Bitcoin Market to Face Stagnation Until Sentiments in the U.S. Market Improves

As Bitcoin struggled to sustain momentum at the lower end of $80,000, key factors suggest the asset might take longer to retest the $100,000 price mark.

As one prominent market participant observed, a bullish uptrend might take longer as sentiments in the United States remain primarily bearish.

“Bitcoin market will likely remain slow until sentiment in the U.S. improves.” Ki Young Ju wrote, pointing to the underwhelming absence of significant on-chain activity as a key indicator.

Notably, current market sentiments in the U.S. largely differ from those observed in the latter part of the previous year. Between November and December 2024, they leaned more positively as Bitcoin reached an ATH of $105,000.

Interestingly, key indicators are still neutral as displayed on the Coinbase premium index chart covering network activity from March 2nd to March 4th, 2025. Ju maintains that neutrality “suggests that the bull cycle is still intact.” Additionally, fundamentals have remained strong, and more mining rigs have resumed online activity.

Should the bull cycle finish at this point, Ju asserts that the trend will not mirror the sentiments of key market participants.

“If the cycle ends here, it’s an outcome no one wanted—not old whales, mining companies, TradFi, or Trump. (FYI, the market doesn’t care about retail.)” He wrote.

Meanwhile, Bitcoin’s historical volatility index has now risen to 3%, as a result, price upswings have hit their highest levels of BTC volatility since early December.

At report time, Bitcoin, up by 4.50% today, is valued at $91,408 per coin. The asset saw a major price swing today, surging to $92,500.

$85,765 remains a key support level to watch out for, as a break below this point could indicate a potential downside. Conversely, a break above $93,165, a key resistance level could suggest a bullish trend reversal.