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Bitcoin’s Identity Crisis: A ‘Digital Gold’ Tumbles as Institutional Embrace Becomes a Trap
Bitcoin, once lauded as 'digital gold,' is facing a severe downturn, with its price plummeting after achieving mainstream institutional adoption. The very integration with Wall Street that was meant to stabilize it has instead exposed its vulnerabilities, transforming it into a volatile asset correlated with traditional markets, while core narratives like inflation hedging and decoupling unravel amidst exchange freezes and a pivot by miners towards AI.