WSJ: Bitcoin crash could usher in a new ”crypto winter”

The Wall Street Journal (WSJ) reported on the 1st (local time) that investors are growing concerned about a "new crypto winter" following the sharp drop in Bitcoin.
On the 2nd, Bitcoin temporarily fell by more than 8%, dropping below $84,000. It is currently trading at around $86,000. Not only Bitcoin, but other cryptocurrencies have also fallen sharply.
Against this backdrop, investors are rapidly becoming wary that "winter may be coming again."
Cryptocurrency winters have occurred repeatedly since the early days of Bitcoin's existence.
In 2022, the price of Bitcoin crashed by approximately 80%, triggering a liquidity crisis and the virtual collapse of the world's second largest exchange, FTX. At the time, there was a massive withdrawal of funds, similar to a "bank run," and
After that, Bitcoin continued to stagnate for about two years. The main cause of this sudden drop is not an incident or a collapse, but concerns about overheating and a bubble. After hitting a record high of $126,000 in October last year, Bitcoin
Bitcoin has continued to fall gradually since then. What is attracting even more attention is that Strategy (formerly MicroStrategy), one of the world's largest Bitcoin holders, has announced that it will withdraw some of its shares.
The company is currently increasing its Bitcoin holdings, but CEO Michael Saylor warned that "the price of Bitcoin is trading below the company's market capitalization."
"If the situation worsens, I may sell some of my holdings for the benefit of my shareholders," he said in a recent video. If Saylor, who is also known as a Bitcoin "evangelist," were to sell, it could mean the arrival of a "cryptocurrency winter."
The WSJ points out that this will be a symbolic event.