NYDIG: Bitcoin slide has multiple causes

Bitcoin's slide stems from several overlapping headwinds rather than a single cause, NYDIG head of research Greg Cipolaro said in a report. AI momentum, high-profile tech IPOs, quantum and security fears, sanctions on Iranian crypto exchanges, and Strategy's BTC sale all played a role. Onchain metrics point at a major bottom nearing, but the drawdown has remained modest compared to previous bear markets.