**[Three Major Reasons Behind Bitcoin Bear Market Revealed, But Industry Predicts a Rebound to $100,000 by Year-End]** Odaily Planet Daily News: Bitcoin has been on a continuous decline since October last year, with its current price hovering around half of its historical peak of $126,000. The market remains in a deep bear phase. Multiple industry analysts believe that Bitcoin's current pressure stems from three main reasons: the four-year cycle, macroeconomic inflation pressures, and market leverage liquidation. Bitwise Chief Investment Officer Matt Hougan stated that Bitcoin's long-standing "four-year cycle" continues to influence investor psychology. Historically, Bitcoin typically experiences approximately three years of upward cycles followed by a one-year adjustment period. Investors have developed cyclical expectations and may begin reducing some long-term holdings by the end of 2025. Additionally, the macroeconomic environment is a significant drag on Bitcoin. Grayscale's Head of Research Zach Pandl pointed out that rising inflation pressures in the U.S. have dampened market expectations for interest rate cuts. Investors are shifting toward traditional assets with higher yields, leading to outflows from risk assets, including cryptocurrencies. The short-term bottom is expected to be around $58,000, while future trends will continue to be influenced by interest rate policies, corporate Bitcoin purchasing behavior, and progress in U.S. crypto regulatory legislation. Excessive market leverage has also exacerbated this adjustment. During the bull market, many investors expanded their Bitcoin exposure through borrowing and financing. As the market weakened, open interest in derivatives declined, putting pressure on digital asset treasury companies. Strategy's stock price has dropped approximately 75% since October last year, and the corporate Bitcoin hoarding model it previously promoted is now being re-evaluated by the market. However, some analysts remain optimistic about Bitcoin's future. 21Shares Chief Investment Strategist Adrian Fritz predicts that Bitcoin may bottom out this summer and rebound after interest rates turn dovish and geopolitical tensions ease, with a year-end target price of $100,000. (Source: Fortune)