Bitcoin's recent surge, which has allowed it to reach a two-week high, may be short-lived due to the ongoing market uncertainty that is holding back investors. The lack of confident momentum, low trading volumes and macroeconomic tensions create the risk of a «bull trap» – a situation where the market remains without a clear direction. Analysts identify factors that continue to negatively affect bitcoin: increased tariff tensions, inflationary threats, and geopolitical instability. They also warn that the market is particularly fragile right now: volumes are low, retail investor activity is minimal, and major players are refraining from action, which indicates hidden risks. In March, bitcoin fluctuates in the range of $76-$95 thousand. The BTC financing ratio, reflecting the difference between spot and futures prices, has turned negative, indicating traders' unwillingness to overpay for long positions. In addition, the rates for borrowing stablecoins such as USDT and USDC on the Aave platform dropped to 4%, demonstrating a decrease in risk tolerance.
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