After experiencing a massive loss of hundreds of billions of dollars in market value last month, Bitcoin is struggling to rebound, but fragile market sentiment and ongoing selling pressure are making any recovery efforts difficult.

Although positive news about the end of the U.S. government shutdown boosted traditional risk assets, the cryptocurrency market did not see the expected strong rally, highlighting investors' lingering unease after significant losses.

This world's largest cryptocurrency briefly surged past $107,000 on Monday but quickly fell back below $105,000. This weak price performance contrasts sharply with the rally in the stock and credit markets driven by the U.S. government's reopening, indicating that internal momentum in crypto assets remains insufficient.

According to Bloomberg, since October 10, when Trump unexpectedly announced tariffs triggering a record liquidation, Bitcoin's market value has shrunk by approximately $340 billion. The market generally attributes the recent downturn partly to early large holders ("OG whales") taking profits near the yearly high, as well as the lingering effects of a major liquidation event in early October.