Bitcoin may repeat 2024 consolidation, market shows weakness, uncertainty; analysts predict further downfall.

From Cointelegraph

March 15, 2025 02:35 AM:

Head researcher at 10x Research, Markus Thielen, considers the possibility of Bitcoin repeating its 2024 price action of consolidation after hitting all-time highs. Bitcoin’s current chart signals market indecision, resembling a High and Tight Flag pattern which shows signs of weakness. Spot Bitcoin ETF market lacks a “buy-the-dip” mentality.

Since March, spot Bitcoin ETFs in the US have seen outflows of $1.66 billion. Bitcoin is currently trading at $84,290, down 23% from its $109,000 all-time high in January. Thielen is uncertain about a short-term uptrend resuming, suggesting closing short positions. Analysts predict further downfall for Bitcoin amid macroeconomic uncertainty and tariffs proposed by Donald Trump.

BitMEX co-founder Arthur Hayes forecasts Bitcoin retesting $78,000 and potentially falling to $75,000. Analysts suggest that the low $70,000 range could pave the way for a more sustainable recovery. Bitcoin’s recent price correction has not spurred a buy-the-dip mentality in the spot Bitcoin ETF market, leading to significant outflows.

Read more at CoinTelegraph: ‘Very possible’ Bitcoin consolidates for 8 months again: 10x Research