Bitfinex report: Bitcoin has been in consolidation for nearly 90 days, with market momentum continuing to stagnate

According to BlockBeats, on February 25th, Bitfinex released a report stating that "Bitcoin has maintained range volatility over the past week and has been fluctuating between $91000 and $102000 over the past 90 days, with market momentum continuing to stagnate. The downward trend is influenced by macroeconomic uncertainty and the increasing correlation between Bitcoin and traditional markets. The S&P 500 failed to break through 6000 points, leading to a decrease in risk appetite and further curbing speculative participation in risky assets. The demand for institutions has significantly slowed down. After reaching a peak of 18000 bitcoins per day in November 2024, there has been a net outflow of funds from the Bitcoin ETF, with $360 million being withdrawn on February 20th alone. The decrease in participation of such institutions, coupled with a significant decline in leveraged trading activities, indicates that the market is experiencing a relatively widespread contraction. Bitcoin is currently at a critical crossroads, with market participants waiting for a catalyst after nearly 90 days of sideways consolidation. The next major trend of Bitcoin is likely to be influenced by macroeconomic trends and may have decisive significance