Bitcoin Price at Risk as Bearish Pennant Pattern Forms

February 24, 2026

Bitcoin faced challenges as it remained in a tight range on Monday, reflecting a continued consolidation phase. The BTC/USD pair traded at 68,430, a significant drop from its all-time high of 126,200.

One major challenge Bitcoin faced was the decline in spot Bitcoin ETF assets, with over $315 million lost, contributing to a monthly outflow exceeding $993 million. Despite accumulating over $85 billion in assets, these funds have seen a significant decrease in net inflows recently.

Moreover, demand from Digital Asset Treasury companies has decreased, with only a few companies like Strategy and Strive still accumulating Bitcoin. Bitcoin’s role in portfolios has been questioned due to its failure to serve as a safe-haven asset, unlike gold, which has seen a significant increase in value.

Additionally, Bitcoin has not been a reliable hedge against inflation and currency debasement, unlike gold and silver, whose prices have surged. The market’s reaction to the Supreme Court’s decision on Donald Trump’s tariffs was mild, and Bitcoin’s futures open interest dropped from $95 billion to $40 billion.

Technical analysis of the BTC/USD pair indicated a downward trend, with prices falling from 126,300 to 68,300, below the 50-day EMA and Ichimoku cloud indicator. The Supertrend indicator also suggested bearish control, with a bearish pennant pattern forming, pointing to a potential drop to the key support level at 60,000.

In conclusion, Bitcoin’s challenges in maintaining its value and role in investment portfolios have contributed to its struggle to break out of the consolidation phase. With decreasing demand and market uncertainties, the future price movement of Bitcoin remains uncertain, with a bearish trend scenario more likely based on technical indicators. Investors should remain cautious and closely monitor key support levels to make informed trading decisions.