• Bitcoin touches $93.9K after recent slump
• BTC is down ~26.4% from October peak above $126K
• ETF inflows remain weak, institutional demand subdued
• Macro risks weigh on sentiment

Bitcoin climbed about 2% on Wednesday to a two-week high near $93,900, a modest rebound after weeks of steep losses.
 

But the broader mood around crypto remains fragile. Since peaking above $126,000 in early October, Bitcoin has shed roughly one-third of its value – a wipeout that reflects waning investor risk appetite and wider macroeconomic uncertainty.

The current bounce appears more like a relief rally than a sign of renewed bullish conviction. Institutional flows into US-listed Bitcoin ETFs remain thin with a “feeble” $59 million, according to market-data compiled by Bloomberg and analysts warn that many potential buyers may be waiting for deeper discounts before reentering.

Compounding the cautious tone: recent pressure on broader markets, rising bond yields, and uncertainty over interest-rate policy. For now, Bitcoin’s fate seems tethered to the fickle mood of global risk markets, rather than strong underlying conviction.

Looking ahead, much will depend on macro developments, particularly global interest-rate trajectories and whether investors feel comfortable deploying fresh capital at current price levels. Until then, this rally may remain a temporary reprieve rather than the start of a durable recovery.

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