Nigeria, Feb. 12 -- Bitcoin's drop below $96,000 has prompted the cryptocurrency market to go "pink."

Given that institutional and retail data point to declining demand, this most recent bounce is by no means insignificant.

The asset is impacted by an unstable macroeconomic climate even though it appears to be moving independently of cryptocurrency fundamentals.

Despite market concerns brought on by trade tensions between the United States and China, Bitcoin is still gaining popularity. Investment flows, attitude indices, and derivative structures all indicate increased caution.

The data indicates that institutional purchasing volumes are not very noteworthy. Between February 3 and February 7, Strategy bought $742.3 million worth of B...