Bitcoin is struggling to climb out of a $330 billion hole, and the forces that once powered its ascent are in retreat. After a bruising October, the digital currency has staged only a halting recovery — climbing, dipping and stalling just above $100,000. What’s missing this time is the powerful tailwind that defined much of 2025: institutional conviction. Over the past month, many of the biggest buyers — from exchange-traded fund allocators to corporate treasuries — have quietly stepped back, depriving the market of the flow-driven support that helped propel the token to records earlier this year. Their retreat ... (full story)