Macro Fears Cap Bitcoin Upside Despite 3-Week High
Bitcoin briefly surpassed $90,000, but macro uncertainty and cautious investor sentiment limit further upside momentum.Summary
Bitcoin jumped above $90,000, reaching a multi-week high, but macroeconomic fears are capping its potential to reclaim the $95,000 level. Concerns stem from disappointing sales reported by Tesla and general worries about the US job market, which are also impacting the tech-heavy Nasdaq. Despite the price rise, investor confidence remains subdued, evidenced by flat demand for leveraged BTC positions and significant net outflows from Bitcoin spot ETFs since mid-December. Furthermore, options market data shows professional traders are still demanding a premium for downside protection, indicating lingering skepticism near $90,000, although outright panic is absent. Traders are likely to rebuild confidence slowly following a month of consolidation, pending clearer economic signals.
(Source：Cointelegraph)