Bitcoin faces renewed headwinds as market participants increasingly question the digital asset's foundational scarcity narrative.
A recent survey by Die Presse highlights growing skepticism among investors regarding whether Bitcoin remains a finite store of value or has devolved into a speculative instrument.
The asset has now lost more than half of its value from the peak of over $126,000 reached last year.
This shift in sentiment coincides with a broader risk-off environment, where capital is actively rotating out of cryptocurrencies and into high-growth sectors such as artificial intelligence.
The price action reflects this cautious stance.
Bitcoin has slipped below the critical $60,000 threshold, marking a significant psychological break in the crypto market.
The asset has now lost more than half of its value from the peak of over $126,000 reached last year.