AllianceDAO Co-founder: Bitcoin Bear Market Needs No "Scapegoat," Price Driven More by Market Psychology

Odaily News AllianceDAO co-founder qw posted on social media, stating that over the past few months, the market has been constantly looking for "scapegoats" for the Bitcoin bear market, including factors such as Jane Street, quantum computing threats, and software sector sell-offs.

He believes that Bitcoin is not an asset anchored by cash flow; its price fluctuations are driven more by market sentiment and technical patterns, essentially reflecting changes in investor psychology rather than being caused by a single external event.