Coinbase Institutional has shared its opinion that as bitcoin enters new price territory, the wider crypto market could struggle against macro and technical factors in the coming weeks.

“We think crypto may encounter some important macro headwinds and negative technical factors in the weeks ahead before we may witness the next leg higher,” wrote David Duong, Head of Institutional Research at Coinbase, and David Han, Institutional Research Analyst at the firm.

Examples of potentially price-stymying factors include expectations that the U.S. Federal Reserve will allow the Bank Term Funding Program to expire today, potentially closing an arbitrage opportunity for banks.

Additionally, the Consumer Price Index print for last month is expected to be shared tomorrow, and any negative …