Odaily reports that BTSE Chief Operating Officer Jeff Mei, in an interview with CoinDesk, stated that geopolitical and economic uncertainties are prompting institutions to reduce their crypto asset holdings, and Bitcoin may fall to the $70,000 to $80,000 range in the coming weeks. He pointed out that only when the trade war ends and the Federal Reserve resumes rate cuts can major cryptocurrencies potentially return to their previous historical highs. In addition, SignalPlus Insight's Augustine Fan expressed a pessimistic view on the technical prospects of Bitcoin. He believes that the current price trend has a very negative technical outlook, and the high realized volatility has further deteriorated Bitcoin's risk-adjusted performance, with almost no obvious positive catalysts in the short term. CoinDesk's analysis also pointed out that Bitcoin is testing the 200-day simple moving average (SMA), and if it breaks below this key support line, it could mean a break of an important trend line. Both market sentiment and technicals show significant downward pressure.