Odaily News BTSE Chief Operating Officer Jeff Mei told CoinDesk that geopolitical and economic uncertainties are prompting institutions to reduce their crypto asset holdings, and Bitcoin could fall to the $70,000 to $80,000 range in the coming weeks. He pointed out that only when the tariff war ends and the Federal Reserve resumes rate cuts will the major cryptocurrency likely return to its previous historical highs.

In addition, Augustine Fan, head of insights at SignalPlus, expressed a pessimistic view on the technical outlook for Bitcoin. He believes that the current price trend is technically very negative, and high realized volatility further worsens Bitcoin's risk-adjusted performance, while there are few obvious positive catalysts in the short term. CoinDesk's analysis also pointed out that Bitcoin is testing the 200-day simple moving average (SMA), and if it falls below this key support line, it may mean a break in an important trend line. Both market sentiment and technical aspects show great downward pressure. (CoinDesk)