The price of Bitcoins began 2025 with a little inspiring performance in January, moving mainly sideways throughout the month. The negative beginning of the Prime Minister’s cryptocurrency until February – fell about $ 92,000 on the first day – it was a sign of what will come later this month.
Since then, the price of Bitcoins has dropped below USD 80,000, publishing one of the worst results in February in recent years. While several experts shared their thoughts and analyzes of this market slowdown, analysts from Crypto Exchange Coinbase are among the latest, which consider the latest February Bitcoin.
A weekly fall in Bitcoin: What causes a decrease?
In the latest market report, Coinbase David Han and David Duong analysts revealed that cryptocurrency and bitcoins markets are in a somewhat uncertain condition. This change of market state occurs after hacked Bybit worth $ 1.4 billion and a decrease in the macroeconomic environment.
According to Coinbase analysts, the latest news and a decrease in consumer mood indicator influenced cryptographic and United States action markets at the beginning of the week. However, the stock market affected the improvement of investors’ moods after the Chamber of US representatives approved the budget during the week.
On the other hand, the price of Bitcoins has not demonstrated the same level of immunity in the last seven -day period, fighting to recover some key psychological levels above USD 95,000. Now the flagship cryptocurrency trads just above USD 80,000, reflecting over 12% decrease over the past week.
Han and Duong believe that the failure of the Bitcoins price from the early week of blues resulted from the lack of positive closest catalysts in the cryptographic space. In addition, analysts emphasized the lack of technical support in the region 80,000 – 95,000 USD.
Source: SoSoValue
The current weaknesses of the frail investors are highlighted by weighty outflows that suffered American Bitcoin trade funds from over $ 2.9 billion withdrawn last week. “At the same time, loan markets repeated the risks’ moods, because the lever is reduced and the financing indicators have fallen all the time,” added the analyst.
According to the report, almost $ 2 billion of eternal deadline contracts were liquidated at the beginning of the week, significantly reducing the lever on the market. Meanwhile, the basis of CME for both Bitcoin and Ethereum fell to 5%, the lowest than March 2023.
Bitcoin price at first glance
In this letter, Bitcoin is valued at around USD 85,200, which reflects a 0.3% decrease in the last 24 hours.
The price of BTC forms a doji candlestick on the daily timeframe | Source: BTCUSDT chart on TradingView
Recommended photo from Istock, chart from TradingView
