Woofun AI notes that analysts attribute Bitcoin's current bear market to four-year cycles, inflationary pressure, and leverage liquidations. Bitwise CIO Matt Hougan highlights the historical pattern of three years of growth followed by one year of decline, noting potential position reductions by long-term holders by late 2025. Grayscale Research Head Zach Pandl emphasizes macro factors, citing US June inflation at 4.1% and expectations of interest rate hikes. Market leverage dynamics and pressure on treasury companies like Strategy, whose stock prices dropped 75% since October, further contribute to the downturn. While Pandl sees a short-term bottom near $58,000, 21Shares CIO Adrian Fritz predicts a summer bottom and a rebound to $100,000 by year-end, driven by rate cut expectations and geopolitical resolutions.