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Bitcoin Bear Sentiment Intensifies as Analysts Eye Potential $10,000 Level

Crypto market sentiment has deteriorated sharply in recent weeks, with some analysts forecasting Bitcoin could slide a further 85% to around $10,000 as the total market trades at $2 trillion, or 44% below its October record, DL News reported on Feb. 20. Google searches for "is Bitcoin dead" have climbed since the start of the year, the Bitcoin Fear and Greed Index has fallen to levels last seen in 2019, and over $10 billion has been withdrawn from Bitcoin and Ethereum exchange-traded funds since October, DefiLlama data show. Eurointelligence director Wolfgang Münchau argues Bitcoin is struggling to establish a clear narrative between tech and safe-haven asset status, while prominent industry figures such as Arthur Hayes, Tom Lee and Michael Saylor remain bullish on future crypto rallies despite the broader weak environment.
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