This decline is most notably not driven by any actual negative news, including in the US stock market. From my personal perspective, the main reason should be that institutional and fund managers' cash levels have repeatedly hit historic lows. As passive positions are released and prices fall, bottom-fishing should resume again. Currently, the main contradiction in the market remains Trump and the Federal Reserve's monetary policy. The biggest difference this time is that the distribution of chips has not experienced a cliff-like change. Even early-loss investors have not reacted strongly to this decline. Most BTC holders are not very interested in short-term price fluctuations, even though it nearly broke below $60,000. A pullback to around 1818-1770 could be a good entry point, with a rebound target around 1855-1900.