Analysis: Bitcoin's outlook depends on market sentiment, with fair value estimated at around $75,000

BlockBeats News, February 20th, UniCredit strategist Thomas Strobel stated that the recent drop in Bitcoin mainly reflects weak market sentiment and macro pressures, even as US regulatory concerns ease and policy risks decline.

The bank currently maintains a neutral stance, estimating Bitcoin's fair value to be around $75,000. If the price falls by about 35% from that level, especially if it continues to stay below $50,000, it may indicate a more profound structural change. To see a rebound, there may need to be an improvement in market sentiment, an increase in ETF inflows, and a better liquidity environment.