Bitcoin (BTC) has struggled to regain momentum in the low-to-mid $60,000 range, leaving it roughly 40% below levels seen around a year ago and even further from its peak. For a market that has already absorbed spot ETF approval, a wave of Wall Street participation, and an unusually supportive posture from Washington, the inability to sustain a six-figure price has forced a broader question: whether the next major risk for digital assets is not technological or macroeconomic, but political.
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