$BTC #BTC Bitcoin (BTC) has been experiencing a significant downtrend since its all-time high in November 2021, with its price plummeting over 70% to around $18,000 in June 2022. This sharp decline has been attributed to a combination of factors, including increased regulatory scrutiny, global economic uncertainty, and a broader market sell-off in risk assets. Additionally, the collapse of several high-profile cryptocurrency projects and the liquidity crisis faced by major crypto lenders have further exacerbated the bearish sentiment. As a result, investor confidence has been shaken, and many are now questioning the long-term viability of Bitcoin and the cryptocurrency market as a whole. The ongoing downtrend has also led to a significant decrease in trading volumes and miner revenue, adding to the woes of the already battered cryptocurrency market.