Under the pressure of policy uncertainty, why is Bitcoin still hovering at a low level? Looking at the difficult situation of mining companies and listed companies.

[Chain News] Recently, we reviewed the trends in the crypto market for this week, and the situation is indeed not very optimistic. The uncertainty of global policies and the slow progress of legislation have directly dragged down the price of Bitcoin, and the sluggish trend has not been able to turn the situation around.

The situation for publicly listed companies isn't any better. A new product has been launched by a certain compliant platform, originally intended to boost investor confidence, but the overall weak market environment completely offsets this minor positive news. The stock price of Strategy remains sluggish, and although ARK Invest has increased its holdings in BitMine, it hasn't been able to strengthen its stock price.

The mining companies are feeling even worse. Bitdeer is caught up in a collective lawsuit, CleanSpark's profits did not meet expectations and it faces pressure from insiders selling off shares. Iren's stock price was hurt after being rated neutral, and although TeraWulf completed a large financing deal, the dilution of shares caused by the financing led to a drop in its stock price. This is the current situation – good news keeps coming, yet the market turns a blind eye.