VanEck Analyst: No Single Trigger for This Bitcoin Plunge, Making Market Bottom Harder to Judge

Odaily News According to Matthew Sigel, Head of Digital Asset Research at VanEck, unlike previous crashes with clear catalysts, this round of selling has no single trigger, making it more difficult to judge the market bottom, but it may also create clearer conditions for a recovery.

Matthew Sigel added that factors contributing to Bitcoin's drop to $60,000 on Thursday included leverage unwinding, forced selling by miners, fading AI hype, quantum computing threats, and the typical four-year bull-bear cycle pattern that Bitcoin investors anticipate and subsequently sell into.