Bear Market

Bitcoin plunged to a year-low of $59,023.98 on Wednesday, intensifying the eight-month bear market. Macroeconomic pressures, inflation concerns, and a shift to AI stocks and IPOs are impacting its performance. Regulatory uncertainty surrounding the CLARITY Act adds further headwinds. Despite increased institutional participation stabilizing declines compared to past winters, Bitcoin ETFs are experiencing significant outflows, indicating institutional caution.