Bitcoin and altcoins remain under pressure as macroeconomic uncertainties and global concerns continue to weigh on market sentiment, according to analysts at Santiment. Investors should brace for increased volatility as large Bitcoin holders contribute to a prolonged downtrend.
Major Selling Pressure and Market Decline
In a March 11 research report, Santiment highlighted that significant selling pressure from major Bitcoin stakeholders has driven the market downward for seven consecutive weeks. Since reaching its all-time high of approximately $109,000 on January 19, Bitcoin has dropped to a low of $78,000. The decline has been attributed to profit-taking by large holders, which began on February 19, 2025.
“When key stakeholders finally began to take profit on February 19, prices immediately began to see much steeper drop-offs. It is especially interesting to see that prices have continued to plummet (falling back to a low of $78K today) even after these high capital BTC wallets began to buy back in one week ago on March 3, 2025.” – Santiment Report
Macroeconomic Concerns and Global Uncertainty
Santiment’s analysts also point to macroeconomic and global issues contributing to the uncertainty in both equity and crypto markets. Trade tensions stemming from U.S. policies, including former President Trump’s tariffs and a growing trade war, are fueling negative market sentiment. This could further destabilize Bitcoin and other cryptocurrencies in the short term.
Bearish Market Sentiment and Altcoin Losses
Market sentiment appears increasingly bearish, with social media discussions suggesting a possible Bitcoin decline to the $69,000–$50,000 range. Mentions of this price range have surged online as prices continue to slide.
Meanwhile, altcoins have experienced even steeper losses than Bitcoin. Over the past 30 days:
- Ethereum (ETH): Down 29%
- Solana (SOL): Down 40%
- Dogecoin (DOGE): Down 38%
Signs of Long-Term Accumulation
Despite the ongoing downturn, Santiment sees potential for recovery. The report notes that long-term Bitcoin holders have started accumulating again. A reversal could begin once large Bitcoin holders resume aggressive buying, traders absorb heavy losses, and widespread fear dominates social media discussions.
While short-term turbulence remains likely, analysts suggest that renewed accumulation by institutional investors and long-term holders could signal a stabilization phase, potentially leading to a market recovery in the coming months.
