Bitcoin may be entering another slow, sideways phase as it struggles to regain key support levels. Recent market analysis suggests BTC is stuck between major price zones, raising the risk of a prolonged consolidation similar to what played out in 2022 if momentum doesn’t return soon.
One growing concern is the sharp pullback from institutional investors. Spot Bitcoin ETFs have seen nearly $709 million in net outflows, one of the largest exits since their launch, signaling caution rather than confidence from big players. This wave of selling has added pressure just as Bitcoin failed to hold higher levels.
On-chain data points to clear roadblocks above current prices. Key resistance near recent buyers’ cost levels has repeatedly rejected rallies, making each bounce vulnerable to selling. Bitcoin has been moving within a wide range, with demand weakening near the upper boundary and support being tested below. This pattern closely resembles earlier market phases where repeated failures led to months of choppy, directionless trading.
Adding to the challenge, a large cluster of supply sits above the $100,000 mark. Many of these coins are slowly transitioning into long-term holdings, but until demand meaningfully increases, this overhead supply is likely to limit upside attempts and keep pressure on rallies.
Risk indicators also suggest caution. Market risk measures are approaching elevated levels, which historically aligns with extended consolidation rather than strong trend moves. Unless Bitcoin can convincingly break and hold above the $98,000- $100,000 zone, the broader bull narrative may remain on pause.
With ETF outflows accelerating, macro uncertainty lingering, and price repeatedly rejected near key resistance, Bitcoin appears more likely to remain rangebound in the near term. A breakdown below critical support around $84,000 could open the door to further downside, while a sustained surge in demand would be needed to shift the market back into a clear bullish phase.
