The price of Bitcoin has been trading in a volatile range between $78,000 and $82,000 due to fading bullish momentum and reactions to shifting macroeconomic conditions. The recent "sell-the-news" reaction to developments such as the US Strategic Bitcoin Reserve and the White House Crypto Summit has resulted in a pullback. The expiration of $3 billion worth of Bitcoin and Ethereum options contracts also contributed to price swings. Traders have experienced widespread losses, with $818 million in realized losses per day. The Bitcoin Spent Output Profit Ratio has fallen into negative territory, indicating distress selling. Uncertainty in the broader economy and regulatory shifts are causing market hesitancy. President Donald Trump's Strategic Bitcoin Reserve now holds 187,000 BTC, signaling a change in US policy towards retaining Bitcoin as a national asset. Japan is introducing crypto-friendly tax reforms that could encourage greater investment in digital assets.



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