Bitcoin price holds steady, but future sentiment signals caution – details

According to CryptoQuant Quicktake's recent post, while the price of Bitcoin (BTC) has been steadily rising from November 2024 to February 2025, sentiment in the cryptocurrency futures market has not seen corresponding growth. Bitcoin Futures Sentiment Indicator Signals Caution Bitcoin price skyrockets from around $74,000 in November 2024 to a peak of $101,000 in early February 2025. However, following US President Donald Trump's announcement of tariffs, risky assets — including BTC — saw a significant decline. After hitting a potential local bottom of $74,508 earlier this month on April 6, the peak cryptocurrency has recovered some recent losses. The leading digital asset is trading at mid-$80,000 at the time of writing. Despite this recovery, BTC's futures sentiment has continued to decline since February 2. Even as prices remained near local highs, sentiment in futures markets cooled significantly. CryptoQuant contributor abramchart highlighted this divergence, noting that it may indicate increased caution or profit-taking behavior despite the ongoing bullish trend. The analyst commented: This indicates declining interest or increased fear in futures markets, which may be due to macroeconomic uncertainty, regulatory concerns, or expected corrections. A look at the BTC futures sentiment index shows resistance around 0.8 and support near 0.2. The index is currently hovering around 0.4, indicating mostly pessimistic sentiment across futures markets.

Likewise, Bitcoin's average price has been steadily declining from its peak in early 2025. Currently, prices fluctuate between $70,000 and $80,000, signaling possible market hesitancy amid rising tariff tensions. According to abramchart, if futures sentiment remains low, BTC could face prolonged price consolidation or even downward pressure in the near term. However, any emerging bullish catalyst can quickly change sentiment and restore bullish momentum. Is BTC about to change dynamics? Some analysts believe that Bitcoin may be approaching a breakout. After consolidating in the mid-$80,000 levels for weeks, on-chain figures suggest BTC may be undervalued at current levels. Indicators such as BTC Exchange Reserve and Stablecoin Supply Ratio support this view. Additionally, momentum indicators such as Bitcoin's weekly Relative Strength Index have begun to exit a prolonged downtrend — raising hopes of a potential rally back to $100,000. However, there are still some risks. The recent appearance of a 'death cross' on BTC's price chart — combined with persistent macroeconomic concerns regarding trade tariffs — could still weigh heavily on market sentiment. At press time, BTC trades at $83,917, down 1.8 percent over the past 24 hours.