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VanEck Analyst: There is no single trigger for this round of Bitcoin plunge, making it more difficult to determine the market bottom
Odaily Planet Daily News: VanEck Digital Asset Research Director Matthew Sigel stated that unlike previous sharp declines driven by clear triggers, this round of selling has no single catalyst, making it more difficult to determine the market bottom. However, it may also create clearer conditions for recovery.
Matthew Sigel added that the factors causing Bitcoin to drop below $60,000 on Thursday include leverage collapse, forced miner sell-offs, the cooling of AI hype, quantum computing threats, and the typical four-year bull and bear cycle pattern of Bitcoin investors’ expectations and subsequent sell-offs.