According to a recent report published by Bitwise Research, Bitcoin is currently experiencing pricing fluctuations within what they describe as "the most bearish global growth outlook" seen since the onset of the Covid-19 pandemic and the subsequent crash associated with the FTX cryptocurrency exchange. This situation indicates a unique convergence of economic challenges that is impacting the cryptocurrency market, leading to increased volatility and uncertainty surrounding Bitcoin's value.
source: https://www.coindesk.com/markets/2025/11/29/bitcoin-pricing-in-most-bearish-global-growth-outlook-since-covid-and-ftx-crash-bitwise-research