Wolfe Research: BTC could see further declines

Wall Street investment analysis firm Wolfe Research has projected that BTC could experience further declines. The firm noted that after falling more than 50% from its October high of $126,000, BTC has rebounded but is struggling to maintain upward momentum. "In past four-year cycles, bear markets have shown an average decline of 75%, which in this case could see BTC fall to around $30,000," Wolfe Research analyzed. It added that the macroeconomic, political, and market pressures that triggered the sell-off remain, making a significant rebound from new legislation or improved risk appetite unlikely.