There's been no shortage of bad news in the Bitcoin market lately. Coldcard wallet security incident Strategy reportedly selling off Bitcoin CLARITY Act faces roadblocks Logically, with all this piling up, market sentiment should be getting worse and worse. But an interesting phenomenon has emerged: BTC's reaction to these bearish events seems to be getting weaker. Bitwise's Chief Investment Officer Matt Hougan recently mentioned in an interview that this could be a signal worth paying attention to. His reasoning is actually quite simple: The scariest part of a bear market is when the market is highly sensitive to bad news. One bearish event drops the price sharply; Another bearish event comes, and the sell-off continues. But if, over time, bad news keeps coming, yet BTC starts to "stop falling"... That could mean: Selling pressure is being absorbed Market sentiment has already priced in much of the bearish news The impact of short sellers is diminishing It might even suggest that the bear market is nearing its end. Of course, this doesn’t mean BTC is about to skyrocket immediately. What’s truly worth looking forward to might be the next phase of capital dynamics. Hougan believes that if more crypto ETFs get approved in the future, combined with continued institutional money flowing into the market, it could become a key catalyst for the next rally. So this phase is quite interesting: There’s a lot of bad news, but the market is starting to care less. The true bottom often doesn’t appear when "everyone is bullish." It’s when everyone thinks the market is terrible, but the price just refuses to drop further. The next key point to watch: Can BTC continue to withstand these bearish events? If even bad news can’t push it down anymore, the market might really be undergoing a shift. #Bitcoin #BTC #Cryptocurrency #BitcoinETF