The price of Bitcoin (BTC) is consolidated in the range of approximately USD 5,500 from March 9, because the level of USD 84,000 is a stiff general resistance.

Data from Cointelegraph Markets Pro and Bitstamp show that the BTC price oscillates from 78 599 to USD 84,000, as shown in the chart below.

The key reasons why the Bitcoin price remains flat today includes:

• Trump’s war tensions causing uncertainty on the market.

• Weakening of the demand for bitcoin and neutral financing rates.

• The BTC price remains pinned below the 200-day SMA.

Wider economic uncertainty, weakening of demand

Stagnation of Bitcoin prices is partly caused by wider economic and geopolitical factors that are currently able to.

What to know:

• Recent Trump’s policies, such as proposed trading tariffs to Mexico and Canada, dissatisfaction on the market.

• Investors, cautious about inflation and potential tariff war, avoid risk assets such as Bitcoin.

• As Cointelegraph recently informed, Bitcoin rally elections after Trump lost a couple for a weakened global economy.

• This caused a weaker demand for bitcoins, According to to Glassnode.

For example, the basis of tiny -term costs of 1W -1 m owners flattened above the base of long -term owners (1m – 3 m) in Q1, “marking early signs of weakening of demand in the immediate period.”

Related: The price of bitcoins will drop by 2%because falling inflation increases the fears in the trade war in the USA

The fall of Bitcoin below USD 95,000 caused the 1W -1 m cost base below the cost base 1m – 3 m, “confirming the transition to the outflow of net capital.”

Glassnode noticed:

“This reversal indicates that macro uncertainty fired demand, reducing new inflows … and suggests that new buyers now hesitate to absorb pressure on sales, strengthening the transition from euphoria after fate into a more cautious market environment.”

Until the current trend changes due to macroeconomic tail winds, such as Fed’s cuts, Bitcoin can fight to break free from the current range, exposing it to withdrawal compared to USD 70,000.

Another clear signal of Bitcoin’s stagnation is the constant financing of Futures. BTC financing rates, which reflect the costs of maintaining long or tiny positions in Cryptures in Cryptures, rise nearly 0%, which indicates an escalate in the indecision of traders.

Without a speculative fuel, Bitcoin tries to move in both directions, leaving his price in a tiny circuit, because traders are waiting for the next catalyst.

The price of bitcoins faces fixed resistance at the top

Bitcoin also trads below key areas of resistance, as shown in the chart below:

• On March 9, BTC fell below the 200-day straight movable average (SMA) after USD 83,736.

• This trends suppressed the latest efforts in favor of indefinite recovery.

The popular cryptographic analyst Daan Crypto Trades claims that the 200-day SMA after around USD 83,200 and an EMA 200-day EMA at the level of USD 86,000 are key levels because they are “solid indicators of the average/long-term trend and general market force”.

In other words, the lack of a decisive closure above 200-day SMA and transferring it to a novel level of support can lead to a longer period of Bitcoin price consolidation.

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.