From a macro perspective, a significant correction is likely to occur in the near future. Bitcoin may fall to the $30,000-$60,000 range by the end of 2026, during which the market will be extremely panicked. When the panic index bottoms out around 10, it will be an excellent entry point for deployment.

Why do we expect the bear market to be so deep? First, the risks of exchanges are becoming more prominent. Second, project teams default and run away as a norm. Third, institutional investors will also face liquidation pressures. These factors combined will trigger a chain reaction. Moreover, a 99% wipeout of small altcoins is highly probable, and the market will undergo a brutal cleansing process.

But this is also part of the filtering process. Only Bitcoin can truly withstand the bull and bear cycles. If you deploy spot positions now and hold until 2029, the expected price could break through the $150,000-$250,000 level. Afterwards, the market will enter a stock game phase, with overall growth slowing down.

It is worth noting that the approval of Bitcoin ETFs has changed the game rules. This not only raises the market floor but also stabilizes the volatility. Coupled with the Federal Reserve's unlikely large-scale monetary easing again, Bitcoin is gradually becoming more like gold. In the long term, Bitcoin is expected to approach the market capitalization of gold.

Therefore, the smartest strategy at this stage is to hold a vacant position and wait, then go all-in when bottom signals appear.