Bitcoin continues to trade within a tight range of $91,000 to $102,000, reflecting a consolidation phase that has now stretched beyond 75 days. 

According to the latest market update by Bitfinex Alpha, this prolonged stagnation highlights Bitcoin’s increasing maturity as an asset, with its annualized realized volatility reaching an all-time low.

Despite its relative stability, Bitcoin remains sensitive to macroeconomic developments. The digital asset saw a sharp decline following US President Donald Trump’s announcement of new tariffs targeting Mexico, Canada, and China. 

Recent trends suggest that Bitcoin is behaving more like a risk-on asset, closely mirroring the performance of the S&P 500, while its correlation with gold has weakened.

So far in 2025, Bitcoin has posted a modest gain of 3.5%, while gold has surged 9%, reaching a record high of $2,880 per ounce. The rise in gold’s valuation has added approximately $1.5 trillion to its market capitalization, far outpacing Bitcoin’s $66.5 billion increase. Institutional and sovereign wealth fund purchases have primarily driven this divergence, with gold being the preferred choice due to Bitcoin’s regulatory uncertainties and perceived volatility.

However, Bitcoin’s store-of-value narrative remains strong. Over $196 billion worth of Bitcoin is now held by ETFs, public and private companies, and even nation-states. As central banks continue expanding the money supply and concerns over fiat devaluation grow, Bitcoin’s fixed-supply nature is becoming increasingly attractive to investors.‍

Macroeconomic Factors Impacting Bitcoin’s Future

The broader economic landscape remains a critical factor for Bitcoin’s trajectory. The US labor market showed signs of slowing in January, with 143,000 new jobs added. 

While upward revisions to prior months' figures indicate resilience, wage growth of 0.5% in January (4.1% annually) continues to fuel consumer spending. Higher labor costs and slowing productivity may contribute to inflationary pressures, complicating the Federal Reserve’s decisions on interest rates.

Trade tensions also remain a key concern. While the U.S. and Canada have temporarily eased tensions with a 30-day tariff pause, unresolved disputes could still impact supply chains and consumer prices. Given these uncertainties, Bitcoin’s range-bound behavior may persist, with potential downside risk if macroeconomic conditions deteriorate further.‍

Regulatory Landscape Shifting in Crypto Industry

Despite macroeconomic uncertainties, the cryptocurrency sector is witnessing a surge in regulatory developments. 

With SEC Chairman Gary Gensler stepping down, over 45 new crypto ETF applications have been filed, including proposals for spot ETFs and futures products linked to Solana (SOL) and Ripple (XRP). The SEC is expected to evaluate these applications based on market liquidity and susceptibility to manipulation.

Meanwhile, the Commodity Futures Trading Commission (CFTC) is engaging with industry leaders, including Circle, Coinbase, and Ripple, to discuss regulatory frameworks. A key initiative under discussion is a stablecoin and collateral management pilot program aimed at increasing market stability.

As of the latest data from CoinMarketCap, Bitcoin is trading at $98,351.66, reflecting a 1.21% increase over the past 24 hours. While the asset remains range-bound, its long-term store-of-value potential continues to draw interest, particularly in the face of ongoing global economic uncertainty.