币界网报道：Bitcoin's recent price drop below $26,000 has sparked concerns about a potential "black swan" event, according to analysts at Swiss digital asset bank Sygnum. The bank's research team noted that Bitcoin's 11% decline on August 17 marked its worst single-day performance since November 2022, with the cryptocurrency now down over 20% from its July peak. Sygnum attributes the sell-off to multiple factors, including macroeconomic uncertainty, potential large-scale liquidations from the defunct Mt. Gox exchange, and increased regulatory scrutiny following the SEC's delay in approving spot Bitcoin ETFs. The bank's analysts highlighted that Bitcoin's correlation with traditional risk assets like the S&P 500 has strengthened recently, making it vulnerable to broader market sentiment. They also pointed to technical indicators showing Bitcoin breaking below its 200-day moving average, a key support level watched by traders. While acknowledging the current bearish sentiment, Sygnum maintains a long-term bullish outlook, citing Bitcoin's historical resilience after major drawdowns and its upcoming halving event in 2024, which typically precedes price rallies. The bank cautioned investors to monitor potential contagion risks to other crypto assets and prepare for continued volatility in the near term.