Bitcoin has endured a winter season for most of 2026. After a monster run fueled by spot ETF inflows, institutional adoption, and growing optimism around a more friendly regulatory environment, investors have hit the pause button. Bitcoin peaked at $126,000 in October 2025, only to plunge to around $63,000 today. {chart} Throw in concerns about stretched valuations, rising geopolitical tensions, and a market that's become increasingly sensitive to interest rate expectations, and the pullback has made sense. "Bitcoin tends to be cyclical and lower near term flows does not impact our long term 'store of value' ... (full story)