Bitcoin has entered a 'mini' bear market, according to a report by Matrixport. The report highlights a lack of upward momentum, weakened ETF inflows, and reduced institutional exposure as key factors contributing to the decline in Bitcoin prices. The absence of macroeconomic catalysts has further exacerbated the downturn. The future trajectory of Bitcoin is expected to be significantly influenced by the Federal Reserve's policy decisions. As the market stands at a critical juncture, the potential for a deeper correction or a bottoming-out phase will depend on structural levels and macroeconomic triggers.