Recently, the voices of bearishness have resurfaced, with well-known analysts starting to promote the idea that Bitcoin could be cut in half. But having been in this market for many years, I’ve seen too many false alarms—this correction is actually nearing its end.

Don’t just rely on moving average analysis; data reveals the truth. Let’s look at the chip structure—taking the URPD indicator as an example. At the $87,000 level, there is a concentration of 4.4 million Bitcoins. This isn’t just made up out of thin air; it’s support built on real gold and silver.

Looking at the feedback from valuation models, according to Cointime Price logic, Bitcoin’s current price is 17% below its long-term fair value. Such a discount has only occurred four times in history, and in hindsight, the average increase over the following six months exceeded 40%. Comparing this to the silver bubble with a 73% premium (which peaked in 1980 and then fell 52%), Bitcoin’s current discount actually provides a safety cushion.

From the futures market perspective, the weighted funding rate has already returned to the high levels seen in October, and the open interest within 24 hours has surged by 7 percentage points. All these details point to one thing—smart money is already quietly positioning itself.

Don’t be scared by news of liquidations; that’s precisely the sign of the main players doing a shakeout. Truly capable funds have already been quietly accumulating at the lows. Market panic is often the beginning of opportunity.