Bitcoin shows signs of building stability like its previous slowdown during 2024 according to CryptoQuant”s latest report. Bitcoin faces a possibility of market idle while fluctuating between $90,000 and $106,000 units.

The expert “Avacado onchain” says the primary cryptocurrency needs fresh positive impulses to grow. During 2024 Bitcoin remained stable for seven months until growing again in October. The cryptocurrency market accelerated its growth after Donald Trump secured the U.S. presidential victory.

Bitcoin Transactions Drop 46% Amid Weak Sentiment

Avacado onchain analysis shows that market sentiment keeps weakening based on important data points. Bitcoin monitoring tools show fewer people now engage with Bitcoin addresses through them compared to earlier numbers of 1.1 million which has reduced to 900,000.

Over the past years the number of Bitcoin transactions on the network decreased by 46% as it dropped from 650,000 to 350,000. The report shows Bitcoin ETFs now accept less money from investors.

Bitcoin at a Crossroads: Potential for Prolonged Consolidation Looms

According to the analyst the crypto market decline stems from Trump”s delayed support for cryptocurrencies plus increasing global trade wars. Avacado onchain stated in the report:

“Since previous bullish narratives have already been priced in, further upside momentum will require either the resolution of uncertainties or new bullish catalysts.”

Traders predict that Bitcoin may exceed its present price limits soon. Veteran trader Peter Brandt declared during his Friday, February 21 update that from February 24 to February 26 represents critical days for Bitcoin price direction.

Brandt saw signals of an upcoming change because prices stayed constantly level within their specific range. People observe Bitcoin trading near $96,000 as they watch for when it will break through its current limits or slowly stay at this price point.

The market”s future performance and new factors will determine if Bitcoin repeats its long waiting phase or continues its rally.