[Analysis: Bitcoin's outlook depends on market sentiment, fair value estimated at $75,000] BlockBeats news, February 20, UniCredit strategist Thomas Strobel stated that Bitcoin's recent decline mainly reflects weak market sentiment and macroeconomic pressures, even though concerns over U.S. regulations have eased and policy risks have decreased. The bank currently maintains a neutral stance, estimating Bitcoin's fair value at approximately $75,000. If the price drops about 35% below this level, especially if it remains consistently below $50,000, it could indicate deeper structural changes. For a rebound to occur, improvements in market sentiment, increased ETF inflows, and a better liquidity environment may be necessary.