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Many people are still desperately looking for bad news, but this market decline was not caused by a single piece of negative news. Instead, the market is beginning to reassess how unstable the future truly is.\n\nTariff reversals, escalating geopolitical tensions, and shaky alliances have led to a systematic withdrawal of funds from risk assets. Gold continues to hit new highs, while BTC has been retracing, so it’s already clear that the market now regards Bitcoin as a risk asset rather than a safe haven.\n\nAfter breaking below 92k, the structure weakened; 88k is just a process. The only real variable is: what will Trump say or do next?