比特币6万大关“命悬一线”！分析师直指：“熊市已至”，零目标价悲观预警震荡市场

Core Viewpoint - Bitcoin has experienced significant declines, with a drop of over 48% since its peak last October, leading to a total market capitalization reduction from $2.48 trillion to $1.27 trillion [3] Market Performance - Bitcoin fell to around $60,033, marking a 12% drop and a new low for October 2023, before rebounding to $65,605 [1] - The market sentiment has turned bearish, with analysts warning of a potential bear market for Bitcoin [5][4] Market Dynamics - Approximately $2.3 billion in leveraged long positions were liquidated in the past 24 hours, indicating a rapid acceleration in sell-offs [3] - The loss of the $70,000 psychological support level has triggered fears of larger sell-offs, with traders now focusing on whether Bitcoin can hold the $60,000 level [3] Analyst Predictions - Analysts express pessimism regarding Bitcoin's future, with some predicting a price target of zero due to its speculative nature and lack of intrinsic value [7][8] - Concerns have been raised about Bitcoin's potential to enter a "death spiral," which could lead to significant losses for major holders [5] Institutional Behavior - Institutional investors have been selling off Bitcoin positions, with significant outflows from Bitcoin ETFs contributing to downward pressure on prices [9] - The adoption rate of cryptocurrencies among U.S. consumers has declined from 17% in July 2025 to 12% currently, reflecting a broader loss of interest [9] Regulatory Environment - Regulatory uncertainty has been identified as a key factor affecting Bitcoin's performance, with stalled legislation contributing to market pressures [10] - The potential passage of the U.S. market structure bill could serve as a catalyst for restoring investor confidence and increasing capital inflows [11] Market Volatility - Bitcoin's 30-day volatility has risen to 40.72, indicating increased market fluctuations and sensitivity to negative news [10] - Historical patterns suggest that significant declines beyond 40% could lead to prolonged bear markets, raising concerns about a potential "crypto winter" [11]