Odd Lots podcast analysts Joe Weisenthal and Tracy Alloway of Bloomberg said that the cryptocoin is experiencing "the coldest winter" in its history. In their view, the current downturn is due not only to falling prices, but also to a systemic crisis of ideas and "loss of faith" among market participants.

Experts highlighted four key issues: the collapse of the bitcoin narrative as a hedge against inflation (investors chose gold), fierce competition with the AI sector for capital and energy, institutionalization problems following the launch of spot ETFs, and technological risks such as quantum computing.

Compounding the situation is the "identity crisis" and lack of new growth drivers, as investors are completely preoccupied with new AI models. Against this background, Bitcoin is trading at around $66,975, continuing to decline on macroeconomic and geopolitical factors.