Bitcoin declines as geopolitical tension adds to risk-off mood

Market Sentiment - Bitcoin has experienced a four-week decline, dropping as much as 3.2% to $66,604, reflecting a cautious macro backdrop among investors [1] - Sentiment in crypto markets is described as bleak, despite strong adoption progress by traditional institutions, which is not reflected in overall prices [2] - The Fear and Greed Index for crypto markets is at 10 out of 100, indicating "extreme fear" [3] Market Dynamics - US-listed Bitcoin exchange-traded funds (ETFs) have seen net outflows for four consecutive weeks, with $360 million withdrawn last week [3] - Macro news has been closely correlated with crypto's risk profile over the past year, with expectations of consolidation as Bitcoin seeks new sentiment drivers [4] Price Levels and Predictions - Investors are debating whether Bitcoin has established a durable support level, with $60,000 seen as critical, though it may not hold if risk appetite worsens [5] - There is a possibility of a sharper decline into the $50,000s if macro uncertainties persist, as current market conditions do not reflect a full capitulation [6] Institutional Actions - Harvard University has reduced its Bitcoin exposure by selling 1.5 million shares of the iShares Bitcoin Trust ETF, while also initiating a stake in the iShares Ethereum Trust ETF [7] - Dartmouth College's endowment has increased its stakes in both Bitcoin and Ether [7]