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Bitcoin's value has fallen by 21% this February, marking it as the second-worst February in its history. The asset lost 30% in February 2014 during the 
Mt. Gox exchange collapse.
Hovering around $80,000, the downturn is attributed to the absence of positive catalysts, weak macro sentiment, and declining institutional and leveraged market support.
What’s the Scoop?
- Record Decline:
Bitcoin is set to close February with a 21% decrease, making it the second-worst performing February ever, trailing behind only February 2014. - Global Macro Headwinds: Weak macroeconomic indicators in the U.S. have further dampened investor sentiment, with consumer confidence indices showing significant declines.
- Institutional Withdrawal: In line with heightened caution, over $2.9 billion has been pulled from institutional channels, reflecting a broader risk-off market sentiment.
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