It's my personal view point analysis you can agreed or disagree.
1ST: Bitcoin's severe decline below $64,000 comes down to a fundamental crisis in its investment narrative. The "digital gold" story that drove institutional adoption has completely broken down while actual gold has surged to record highs above $5,500 amid global tensions, Bitcoin has crashed nearly 45% from its October peak, proving it behaves more like a risky tech stock than a safe haven asset.
2ND: The second major factor is massive institutional selling pressure. Digital asset funds have seen outflows exceeding $1.7 billion in recent weeks, with Bitcoin ETF investors now deeply underwater since many bought in near $90,000. This institutional retreat is particularly damaging because these were supposed to be the sophisticated, long-term holders who would stabilize the market.
3RD: The crash has been amplified by a cascade of forced liquidations. Over $2 billion in leveraged positions were wiped out in just days, and thin market liquidity means each wave of selling triggers stop losses and margin calls that push prices even lower. This creates a vicious cycle where technical selling overwhelms any fundamental support, regardless of longer-term prospects.