Woofun AI reports that Bitcoin’s decline from its $126,000 peak is attributed to the four-year cycle, macroeconomic inflation, and leverage liquidations. Bitwise’s Matt Hougan notes investor sentiment aligns with historical adjustment periods, while Grayscale’s Zach Pandl highlights capital shifts to traditional assets due to weakened rate cut expectations. Excessive leverage has further strained the market, causing Strategy’s stock to drop 75%. Conversely, 21Shares’ Adrian Fritz anticipates a summer bottom and a rally to $100,000 by year-end.