The cryptocurrency market has been characterized by indecision and lack of sustained activity in recent weeks. Despite potential positive developments, such as the proposed Clarity Act in the United States, the market reaction has been muted. This indicates that investors are waiting for more meaningful macroeconomic conditions to create a favorable environment.
Institutional participation has also slowed down, with outflows from Bitcoin ETFs reaching approximately $133 million as of February 18. This trend suggests a loss of short-term appetite among institutional participants and reinforces the idea of weakened confidence in the crypto market.