#比特币市场动态 Recently, I've seen a bunch of analyses suggesting that Bitcoin might drop to $75,000 or even $65,000, which was a bit shocking 😅

But after looking into the data more carefully, I found an interesting point — experts are actually saying that the market hasn't truly entered panic mode yet! That is, although prices are falling, people's psychology remains relatively optimistic, thinking a rebound will come soon. This sounds a bit contradictory, but it seems to imply that the real bottom hasn't arrived yet?

Another piece of data that scared me is that Bitcoin has already fallen below the 365-day moving average, which is said to be the dividing line between a bull and a bear market. Coupled with the明显 slowdown in demand growth and the decline in funding rates, it looks like market risk appetite is indeed weakening.

But the good news is, if it really is a bear market, the decline this time should be among the smallest in history (around 55% at most). The mid-term support level is expected to be around $70,000, so thinking this way, there’s still some bottom in sight.

Now I increasingly understand why seasoned traders say you should do your homework and not follow the crowd blindly. This market cycle has taught me a profound lesson! What are your thoughts?