Cryptocurrency analysts have pointed out that Bitcoin has now turned bearish, and its gains over the weekend have completely evaporated. Although Trump's statement on cryptocurrency reserves briefly halted the downward trend, underlying macroeconomic issues remain. The price of Bitcoin has shown great volatility over the past few days. In essence, Trump's statement may only be superficial treatment of a very serious problem. Last week, the Cryptocurrency Fear and Greed Index fell to its lowest level since 2022, and there are several reasons why Bitcoin is currently so bearish: First, the macroeconomic situation does not pose a bullish factor for cryptocurrencies. The Atlanta Fed's GDPNow model now projects that U.S. GDP will contract by 2.8% by the end of Quarter 1 in 2025. From an economic point of view, this forecast is disastrous compared to the 3.9% growth predicted four weeks ago. Another important factor is the tariff policy proposed by Trump. Although some analysts believe that tariffs are not the main reason. However, when Trump recently announced a 25% tariff on the European Union, the cryptocurrency market saw a slump. In other words, macroeconomic factors have largely influenced the market sentiment of the cryptocurrency industry. Since the approval of the spot bitcoin ETF, cryptocurrencies have been deeply integrated with traditional finance. So if the US economy falls into recession, the drawbacks of this integration will be fully revealed.