[Coinbase Institutional: Bitcoin Drops Only About 2% Amid Multiple Bearish Factors, Possibly Signaling a Market Bottom] Odaily Planet Daily News – Coinbase Institutional posted on the X platform, stating that non-farm payroll data came in below expectations, but the escalation of conflicts in the Middle East has refocused the market's attention on inflation. The market is pricing in a 'higher for longer' interest rate environment, with financial conditions for long-duration risk assets tightening and the probability of a rate hike by year-end increasing. Bitcoin has only dropped about 2% under these bearish conditions, which may suggest a bottoming process. At the same time, the market capitalization of stablecoins has roughly doubled since January 2024, but transaction volumes adjusted for real-world activity have grown 4 to 5 times, indicating that the velocity of stablecoins is accelerating. They are no longer merely idle reserves or 'dry powder' but are increasingly being used for actual payments.