Core Insights - Bitcoin dipped below $100,000 for the second time this week, losing 2.7% in the past 24 hours and 9.1% since last week [1][2] - Analysts suggest that the current dip is a mid-cycle shakeout rather than a trend reversal, with a net inflow of approximately $239 million into Bitcoin ETFs indicating continued capital entering the market [2][5] - Market pessimism is linked to fluctuations in the U.S. bond market, with significant yield changes impacting investor sentiment and leading to a global risk-off move [3][4] Market Dynamics - Bitcoin ETFs managed to reverse a six-day negative streak by attracting $239 million in funds, despite the overall market challenges [2][3] - The recent decline in Bitcoin's price was exacerbated by external factors, including U.S. President Trump's tariff threats, which caused a significant drop in crypto prices and wiped out $19 billion in crypto derivatives positions [4] - Analysts believe that macroeconomic conditions are improving, which could support Bitcoin's price recovery in the near future [4][5] Future Outlook - The Federal Reserve's end to quantitative tightening and recent interest rate cuts are expected to create a more supportive liquidity environment for Bitcoin [5] - Traders on prediction market Myriad are optimistic, assigning a 55.5% chance that Bitcoin will rise to $115,000 rather than fall to $85,000 [5]