Analysts: Weak market sentiment suppresses bitcoin rally, absence of policy support exacerbates tensions

Susannah Streeter, an analyst at Hargreaves Lansdown, said in a report that speculators betting on a sharp rally in bitcoin were disappointed as the cryptocurrency market remained battered by negative sentiment. Trump's tariff threat kept investors away from risky assets. The hack of the Bybit cryptocurrency exchange also roiled investor sentiment.
While bitcoin has recovered slightly, it has a long way to go given the rapid pace of depreciation. "If Trump doesn't make any firm moves to show his support for the cryptocurrency industry, the jitters look set to continue."