Bitcoin (BTC) experienced significant losses this week, falling below $84,000 and triggering a historic drop in its market value. This decline represents the fastest bear market in history according to the Kobeissi Letter, which attributed it to an accelerating trend of selling across all crypto sectors. The rapid descent was characterized by record fund outflows from Bitcoin funds exceeding $1 billion. Crypto experts also cite declining macro economic indicators and negative ETF flows as contributing factors to this downturn. A historical pattern suggests a potential for positive price action in the latter half of the year, according to analyst Miad Kasravi. He utilized an extensive backtest of financial indicators, revealing that the National Financial Conditions Index (NFCI) reliably predicts Bitcoin’s movement during major macroeconomic shifts. The NFCI has been trending down recently, signifying a potential for future Bitcoin price rallies.