Bitcoin and the broader crypto market have struggled to keep up with social sentiment in recent weeks. Meanwhile, BTC spot ETFs in the US recorded their second-largest monthly outflow in March.
Bitcoin’s price decline began on January 20, right after hitting an all-time high of $109,114. Since then, BTC has dropped 23%, marking an 11.8% decline in Q1 2025—its worst first-quarter performance since 2018. March also ended on a negative note, with BTC falling 2.3%, breaking its five-year streak of positive March gains.
Bitcoin ETF Outflows Continue
US-based spot Bitcoin ETFs saw a net outflow of $767.9 million in March, according to SoSoValue. This follows February’s record-breaking outflow of $3.56 billion, signaling weak investor confidence despite Bitcoin’s long-term potential.
Market Sentiment and Bitcoin’s Price Trends
Bitcoin started April with a 1.2% price increase, currently trading around $83,000 as the market gains momentum. However, Santiment’s data suggests Bitcoin’s price often moves opposite to public sentiment.
- Bullish sentiment on March 23 and 25 led to price corrections.
- Bearish sentiment on March 29 triggered short-lived gains.
- The crowd remains optimistic, calling for BTC to break $100,000 soon.
Will Bitcoin Correct Again Before $100K?
Analysts warn that BTC could face another correction before surpassing $100,000.
On March 31, experts noted that Bitcoin’s Market Value to Realized Value (MVRV) ratio has formed a death cross, signaling a potential selloff. Additionally, the Bitcoin Macro Index, which tracks technical and fundamental indicators, suggests a bearish divergence, making the $110,000 target less likely in the near term.
