Investment market giant Robert Kiyosaki, author of 'Rich Dad, Poor Dad', recognizes the current bear market as an opportunity rather than pessimism. He emphasizes that we must break away from the old investment habit of simply reveling in changes in asset prices and cool-headedly analyze the economic context and policy environment in which the assets are placed. In particular, he singles out Bitcoin, along with real assets gold and silver, as an essential means of preparing for a fall in the value of the dollar, and argues that global leaders' incompetent economic policies will actually lead to a reevaluation of the value of real assets. His statement that he will actively buy when the technical chart signals a rebound is also a message to market participants who are caught up in vague fears to redefine their own investment philosophy.

However, the harsh numbers surrounding the market are fueling investor anxiety. Recently, the Bitcoin spot exchange-traded fund (ETF) has experienced the largest net outflow of funds since its launch, and even institutional investors appear to be losing trust in the short term. In addition, the news that Strategy, the world's largest Bitcoin holding company, sold some Bitcoin for the first time, cracking the market's belief that it 'never sells'. In addition, the fear and greed index of the virtual asset market has fallen to the level of 'extreme fear', and in the market capitalization ranking, traditional manufacturing companies such as SK Hynix are closely chasing Bitcoin's position, and the prevailing assessment is that its influence in the global asset market is no longer as strong as in the past.

A more fundamental crisis facing Bitcoin can be found in the change of competitors. In the past, Bitcoin built its narrative by competing with traditional safe-haven assets such as gold and the dollar, but its current liquidity is shifting to the massive technological waves of AI and the space industry. While innovative companies such as Space If Bitcoin simply remains with the old label of being an alternative to fiat currency, the risk of being relegated to a supporting role in a technology-centered investment environment cannot be ruled out.

Geopolitical risk is also acting as a key variable holding back the market. As negotiations between the United States and Iran have reached a stalemate and the possibility of the Strait of Hormuz being closed is being discussed, the volatility of Bitcoin, a risky asset, is being maximized. There is optimism that the price will rebound to the $66,000 level if negotiations proceed smoothly, but former President Trump's strong remarks and the uncertainty of armed conflict are freezing investment sentiment. Ultimately, whether Bitcoin will rebound will depend on how quickly institutional support, such as the 'Reserve Asset Modernization Act' being promoted by the U.S. Congress, is realized and whether Bitcoin can once again prove its utility as a key asset in the digital capital market.