Bitcoin's retreat below $100,000 has shaken one of the world's most momentum-driven trades, raising questions whether the sell-off is just another shakeout or the start of something deeper. Bitcoin fell below $95,000 on Friday, with nearly all its gains so far this year getting wiped out. The cryptocurrency has hit a few stunning milestones in 2025. It rose to an all-time high crossing $126,000 on Oct. 6 before sliding just a few days later. It has lost about 25% since the October high, in signs of a deepening bear market, and is currently trading at $95,049. Industry experts point to a two-stage downturn: an initial macro-driven sell-off, followed by forced liquidations. However, longer-term investors argue that the foundations of the digital-asset story remain in place. Some investors st

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