The price of Bitcoin is currently hovering in a critical trading range between $67,000 and $68,000, as the market encounters a phase of consolidation and heightened downside risk. Recent data from Bitcoin Magazine Pro indicates that the asset is trading slightly below $68,000, reflecting minor declines over the past 24 hours, which signal a lack of significant drivers influencing price movements.
Paul Howard, senior director at market maker Wincent, commented on the situation, noting that macroeconomic news has been closely tied to the risk profile of cryptocurrencies over the last year. He suggested that Bitcoin might be entering a consolidation period while searching for fresh catalysts to shift market sentiment. Howard highlighted an upcoming U.S. Supreme Court decision regarding tariffs, expected to be announced on Friday, which could potentially have a more substantial impact than the Federal Reserve”s meeting minutes or forthcoming inflation figures.
Since the selloff on February 5, which saw prices dip to their lowest level since October 2024, Bitcoin has maintained a trading range between approximately $65,100 and $72,000. Although market volatility has decreased from the sharp decline earlier this month, no decisive breakout has yet emerged.
In terms of price analysis, Bitcoin has experienced muted price action recently. After bouncing off a low of $60,000, it struggled to breach the resistance level at $71,800 and subsequently fell to support around $65,650, closing near $67,000. Currently, bears appear to dominate the market, as buyer momentum has not gained traction. If Bitcoin closes below $65,650, it could pave the way for a decline to $63,000, with a significant Fibonacci support level around $57,800.
On the upside, bulls would need to reclaim the $71,800 level to target $74,500 and, potentially, $79,000. For the time being, the market sentiment remains bearish, with Bitcoin expected to trade within the low $60,000s to mid-$70,000s unless existing support levels fail.
Despite this bearish outlook, notable institutions continue to invest in Bitcoin. The Mubadala Investment Company from Abu Dhabi has increased its stake in BlackRock”s iShares Bitcoin Trust (IBIT) to 12.7 million shares, valued at approximately $630 million as of December 31, which marks a 46% rise from the previous quarter. Al Warda Investments has also raised its IBIT holdings to 8.22 million shares, signaling a continued interest in regulated Bitcoin ETF exposure.
Together, these two Abu Dhabi funds held over 20 million IBIT shares worth more than $1.1 billion by the end of 2025. Furthermore, the company Strategy acquired an additional 2,486 BTC for $168.4 million last week, bringing its total to 717,131 BTC at an average price of $76,027. With Bitcoin trading near $68,000, the company faces an unrealized loss of around $5.7 billion, yet maintains its accumulation strategy as a long-term treasury approach.
