Bitcoin (BTC) continued its consolidation over the weekend, oscillating between $94,000 and $99,000. BTC has been sluggish for weeks and experienced yet another quiet weekend, with the price tethered under $100,000. BTC’s extended stall continues as investors sit on the sidelines and wait for the next catalyst to dictate price action. Bitcoin Blockchain Registers Sharp Drop In Transfers The once-bustling Bitcoin blockchain has seen its daily transfer volume register a substantial drop this year, a stark decline from the record-breaking activity registered in 2024. The highest single-day transaction count in 2024 occurred on April 23, when the Bitcoin blockchain processed 927,010 transfers. In contrast, the busiest day in 2025 saw the Bitcoin blockchain process 534,013 transactions. The monthly average has been steadily declining since October 2024. In October, the Bitcoin blockchain registered an average of 660,682 daily transactions, which dropped to 536,874 in November, 413,021 in December, and 372,468 in January. By February 15, mempool.space showed that after block height 883,885, only a single block had been filled. Block 883,885 was only three-quarters full, with only 921 pending transactions in the mempool. Block 883,886 reached full capacity but blocks 883,887 and 883,888 remained less than half full. Transaction fees have also dropped over the past year. Mempool.space indicated a high-priority transfer cost of roughly 1 satoshi per virtual byte or around $0.14 per transaction. Several factors have contributed to the decline in Bitcoin’s transactional activity, the most significant being the declining presence of Ordinals and Runes. Another major factor is the decline of fund transfers on the Bitcoin blockchain. Many BTC holders are waiting for favorable transactions. Meanwhile, exchanges are bunching payments into batch transactions, and custodians are controlling vast reserves of BTC that remain untouched. Bitcoin Analyst Moves Holdings To ETF Bitcoin analyst PlanB has disclosed that he has moved his BTC holdings into spot Bitcoin ETFs. The analyst stated the goal of the move was to manage his holdings more traditionally, similar to how stocks and bonds are managed. They further added they wanted to eliminate the hassles and complexities associated with holding his own wallet keys. However, the Bitcoin community was less than impressed by the decision, with many contending the best way to keep their BTC secure was to be in charge of their own keys. “Disclosure. I have transferred my Bitcoin to ETFs. Yes I know, not your keys, not your coins. But it is just easier for me to manage Bitcoin the same way as equities and bonds. Also, not having to hassle with keys gives me peace of mind. I guess I am not a maxi anymore.” PlanB’s followers criticized the decision to move the BTC into ETFs and questioned the reasoning behind revealing such information. Other users stated they did not understand why PlanB would advocate giving control of his assets to an online platform. However, PlanB contended he saw Bitcoin ETFs as the next logical step to Bitcoin adoption, stating, “In my view, ETFs are a logical step in Bitcoin adoption, next to holding your keys. Out of curiosity: would it be different in your opinion if I would have bought (Micro)Strategy instead of an ETF, or would that be equally evil?” Bitcoin (BTC) Price Analysis Bitcoin (BTC) remained confined in a trading range between $94,000 and $99,000 over the weekend, with investors maintaining a wait-and-watch strategy and waiting for the next catalyst to dictate price action. Investor sentiment has waned in recent weeks with BTC struggling to reach $100,000. Spot Bitcoin ETFs have also registered significant outflows, totaling $650 million over the past four days. When Bitcoin ETFs offload BTC , they sell Bitcoin from their holdings, creating downward pressure, indicating investor outflows, and increasing volatility. BTC’s price action has stalled due to factors like geopolitical tensions and the potential for higher interest rates for longer after the Federal Reserve signaled fewer rate cuts in 2025. Investors are worried Donald Trump’s tariffs could lead to a trade war between the US and China and create market volatility. A trade war could also lead to higher inflation as companies increase prices in the US. Inflation numbers released this week showed consumer inflation rising from 2.9% to 3% in January, while core CPI rose from 3.2% to 3.3%. BTC and other risk assets tend to underperform when the Federal Reserve adopts a hawkish stance. BTC has traded between $94,000 and $98,000 since suffering a significant decline on February 4. Sellers retained control for most of the week, with buyers attempting a recovery on Thursday and Friday. However, attempts at a recovery were unsuccessful, with BTC falling back into bearish territory. Price action was muted over the weekend, with BTC dropping to a low of $94,836 on Sunday. BTC started the week positively, registering an increase of 0.98% and settling at $97,468. However, sellers took control on Tuesday, and the price dropped nearly 2% to $95,800. Source: TradingView BTC fell to an intraday low of $94,118 on Wednesday as selling pressure intensified. It rebounded from this level to register an increase of 2.17% and settle at $97,881. The see-saw price action continued on Thursday as BTC dropped 1.24% to $96,663. Buyers regained control on Friday, and BTC surged to an intraday high of $98,929, briefly crossing the 50-day SMA. However, it could not stay at this level and ultimately settled at $97,566, registering an increase of 0.93%. Buyers retained control on Saturday as BTC registered a marginal increase and moved to $97,705. BTC is back in the red during the current session, with the price down 0.54% and trading at $97,185. BTC looks set to trade between $94,000 and $99,000 unless price action is decisively influenced. If bulls are overwhelmed, sellers will look to push BTC below $96,000 and potentially towards $90,000. On the other hand, buyers must reclaim the $100,000 level for bullish sentiment to return. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
