$BTC After reaching a record high near ~ US$126,000 in early October 2025, Bitcoin has seen a pronounced pullback. As of now $BTC is trading around US$87,000–90,000, a drop of roughly 30–36% from that peak
According to JPMorgan, the crypto market, especially $BTC , is increasingly being viewed as a macro asset rather than a speculative retail token. In this new phase, global economic trends, interest rates, liquidity and institutional flows matter more than the old “halving-cycle → bull-run” narrative.
That shift means what central banks, interest rates, and global risk sentiment do — affects Bitcoin significantly
