VanEck analyst: This round of Bitcoin crash lacks a single trigger, making it more difficult to determine the market bottom.

According to ME News, on February 7th (UTC+8), Matthew Sigel, Head of Digital Asset Research at VanEck, stated that unlike previous crashes with clear triggers, this sell-off lacked a single spark, making it more difficult to pinpoint the market bottom, but potentially creating clearer conditions for a recovery. Sigel added that factors contributing to Bitcoin's drop to $60,000 on Thursday included leverage collapse, forced selling by miners, the waning hype surrounding artificial intelligence, the threat of quantum computing, and the typical four-year bull-bear cycle pattern of Bitcoin investors anticipating and subsequently selling. (Source: ME)