DWF Labs has indicated that the cryptocurrency market is in the late-stage volatility phase of a bear market, with Bitcoin's price currently around $67,000. The firm noted that Bitcoin's price may fluctuate approximately 15% around current levels as the market nears its bottom. Earlier this year, Bitcoin spot ETFs saw $2.9 billion in outflows over 12 trading days, and institutional investors were unable to prevent the market decline. Andrei Grachev, a partner at DWF Labs, highlighted that seasoned investors are aware that the end of a bear market is often the most challenging phase, typically followed by a period of quiet accumulation. Some institutional investors are seizing the opportunity to purchase Bitcoin below $70,000, while venture capital firms are investing in infrastructure and long-term projects. Macroeconomic factors continue to influence the crypto industry's direction.