Bitcoin prices have been flatlining over the last week as traders wait for an “important” announcement from Donald Trump’s US administration. The bitcoin price has remained under $100,000 per coin despite reaching this level in 2022, following Trump’s election victory.
Elon Musk’s recent statements about the US gold reserve have raised concerns among bitcoin experts. Samson Mow, CEO of bitcoin wallet company Jan3 and founder of Pixelmatic, warned of “price suppression” as bitcoin approaches a “death cross.” A death cross occurs when a shorter-term trend line crosses below a longer-term one, which some fear could signal a price crash.
Analysts at JPMorgan have also expressed bearish sentiments, warning that weakening institutional demand for bitcoin and ethereum futures could send prices sharply lower. The bank’s analysts noted that futures prices could fall below spot prices, a situation last seen in the summer of 2024.
Other experts are equally bearish, with one warning that the bitcoin price could collapse to around $70,000 per coin. Bitcoin’s sideways price action has led some to label it as a “price drift away from record highs,” similar to gold.
On the other side of the market, Abu Dhabi’s $1 trillion sovereign wealth fund has purchased $436 million worth of BlackRock’s spot bitcoin exchange-traded fund (ETF), marking a significant development in global bitcoin adoption. The US spot bitcoin ETFs have broken $100 billion in net assets for the first time, with BlackRock’s iShares Bitcoin Trust leading the way.
However, the closely watched crypto fear and greed index has now entered “fear” territory, dropping sharply from its November peak. This could indicate that the market is losing stability and failing to attract sell-off hunters and counter-trend traders.
Source: https://www.forbes.com/sites/digital-assets/2025/02/20/serious-bitcoin-price-suppression-warning-adds-to-death-cross-crash-fear