Bitcoin Price Stagnation Amid Global Economic Uncertainty
Since March 9, the price of Bitcoin (BTC) has been stagnant, with fluctuation narrowing amid global economic uncertainty and the ongoing trade war impact. The price of Bitcoin has been moving in a limited range around USD 5,500, with the USD 84,000 level serving as a strong resistance.
According to data from Cointelegraph Markets Pro and Bitstamp, the latest Bitcoin price fluctuates between USD 78,599 and USD 84,000, showing no clear direction. Despite Bitcoin being viewed as an asset that can protect value amid economic uncertainty, the current market conditions show a decrease in investor interest in risky assets, including BTC.
The main reasons for Bitcoin’s flat price include Trump’s trade war tension causing market uncertainty, declining demand for Bitcoin, and neutral funding rates. Additionally, Bitcoin price remains below the 200-day SMA, reflecting wider economic uncertainty and weakening demand. Economic and geopolitical factors contribute to Bitcoin price stagnation.
Global financial markets continue to face pressure due to economic policies under former US President Donald Trump. Proposed trade tariffs on Mexico and Canada have heightened investor anxiety, impacting not only traditional assets but also the crypto market, including Bitcoin.
Investors concerned about inflation and potential tariff wars are moving away from risky assets like Bitcoin. After a post-election rally following Trump’s victory last November, the price of Bitcoin now stagnates as global economic conditions weaken.
