#bajista The bearish trend in the cryptocurrency market is due to several interrelated factors:

1. Selling Pressure and Liquidations: In recent days, large liquidations of long (bullish) positions in Bitcoin and Ethereum have been recorded, exceeding 200 million dollars. This increases selling pressure, lowering prices. In turn, traders are closing positions, reducing open interest in the markets.

2. Lack of Regulations and Trust: Regulatory uncertainty, such as legal actions against exchanges like Binance and Coinbase, generates distrust among investors. The absence of clear rules also hinders mass adoption and negatively affects market sentiment.

3. Macroeconomic Factors: The monetary policies of the Federal Reserve (Fed), which include adjustments in interest rates, affect risk assets like cryptocurrencies. Additionally, the strengthening of the US dollar diverts capital towards safer assets.

4. Industry Events and Scandals: Internal issues such as the financial difficulties of Digital Currency Group (DCG) and the bankruptcy of related subsidiaries, along with the recent delays in the approval of spot Bitcoin ETFs, have further weakened the market.

5. Bearish Technical Trend: From a technical standpoint, the market has been operating within a downward channel since March 2024, suggesting that this correction could continue if certain key levels are not broken.

This combination of factors creates an unfavorable environment for the growth of cryptocurrencies in the short term. However, their future will depend on the evolution of regulations, institutional adoption, and the stability of the global economic landscape.