Bitcoin Price Stabilises Amid Caution in Futures Market Sentiment

Bitcoin has shown a stable price growth from November 2024 to February 2025, reaching a peak of $101,000. Despite this, futures market sentiment has declined, reflecting caution among traders. Analysts suggest that low sentiment could exert downward pressure on price, although indicators suggest a potential upcoming surge. However, existing macroeconomic issues pose significant risks to Bitcoin’s price momentum.

Bitcoin (BTC) has experienced a stable ascent from November 2024 to February 2025, rising from around $74,000 to a peak of $101,000. However, despite this price movement, the sentiment in the cryptocurrency’s futures market has not mirrored this growth, indicating current cautiousness among traders.

Following the announcement of tariffs by US President Donald Trump, BTC and other risk-on assets have faced significant pullbacks. After a potential local bottom at $74,508 earlier in April, Bitcoin has rebounded, trading now in the mid $80,000s. Nonetheless, Bitcoin’s futures sentiment shows a downward trend since February despite its price stability.

Analyst abramchart from CryptoQuant pointed out this disparity, suggesting it points towards increased caution and profit-taking in the futures market. Heightened fears and uncertainties, especially around macroeconomic conditions and regulatory issues, are likely contributing factors to this subdued sentiment.

The Bitcoin futures sentiment index currently indicates a bearish trend, with resistance around 0.8 and support near 0.2, currently hovering at 0.4. Additionally, Bitcoin’s average market price has declined from its early 2025 highs, ranging between $70,000 and $80,000, indicating market indecision amid ongoing tariff tensions.

Analysts, however, are hopeful as Bitcoin may be approaching an upward momentum shift. Despite several weeks of consolidation in the mid-$80,000s, on-chain metrics suggest BTC might be undervalued. Indicators like changes in BTC exchange reserves and the Stablecoin Supply Ratio are supporting this optimistic outlook.

Moreover, Bitcoin’s weekly Relative Strength Index is showing signs of breaking free from a long-lived downward trend, offering hope for a return towards $100,000. Nevertheless, risks such as the recent ‘death cross’ on Bitcoin’s price chart and enduring macroeconomic anxieties related to trade tariffs could still heavily influence market sentiment, with BTC currently priced at $83,917, reflecting a 1.8% decline in the past 24 hours.