★Where Next for Bitcoin After Worst Quarter Since 2018?

"Bitcoin's Q1 performance, driven by macro headwinds, underscores its increasing sensitivity to global risk appetite and traditional market liquidity. Institutional allocations, now more significant, face amplified volatility from these external shocks, demanding refined hedging strategies and re-evaluation of crypto's portfolio diversification benefits. A sustained recovery hinges on easing geopolitical tensions and a dovish shift from central banks, potentially signaling renewed capital flows into digital assets."