Bitcoin fell to around $64,000 largely due to a series of macroeconomic shocks, including tariff hikes and Federal Reserve policies, rather than a breakdown of its market cycle. The drop has led to five consecutive weeks of investment outflows and decreased trading volume, testing whether Bitcoin’s traditional four-year cycle remains intact. Analysts believe the structural fundamentals remain strong, anticipating stabilization around mid-$60,000 and a gradual recovery as the market builds a base.