Published research is turning notably bearish on Bitcoin, with the emerging consensus pointing to further downside in the months ahead.
One camp of analysts argues the pressure is structural: rising global bond yields make non-yielding assets like Bitcoin less attractive, while speculative money keeps rotating into AI-linked equities. In their framing, that drag persists until rates ease or risk appetite meaningfully shifts.
A separate strand of recent research adds a nearer-term catalyst. Researchers there suggest the U.S. Genius Act could force large stablecoin operators — Tether among them — to liquidate Bitcoin holdings, layering forced technical selling on top of already soft sentiment.
The two views converge on a common theme: institutional dynamics, whether macro rotation or regulation-driven supply, are working against BTC. Where they diverge is conviction pathway, not direction — the structural case needs no trigger, while the regulatory case depends on the forced-selling scenario actually playing out.
Not financial advice.