#比特币市场动态 Looking back at history, I have witnessed countless rises and falls of Bitcoin. Today, seeing BTC fall below a key level again, with market sentiment plunging into "extreme fear," I can't help but recall the winter of 2018. At that time, many believed that Crypto Assets were about to perish, but it turned out to be just a tough baptism.

The current market situation is indeed not optimistic. Analysis from glassnode shows that Bitcoin has fallen below the STH cost basis, with the 95K-97K USD area becoming a key resistance. Even more concerning is the combination of factors such as institutional fund outflows, reduced leverage, and the re-pricing of risks in the options market, all of which are reinforcing this downward trend.

However, as an elder who has experienced multiple cycles, I am well aware that the market always swings between extreme pessimism and optimism. The current fragile situation may actually be a good opportunity for accumulation. The key is to pay attention to whether demand can re-emerge around the cost price level. Meanwhile, the gradual clarification of the global regulatory framework, as well as the IPO advancements of mainstream exchanges like Kraken, could serve as catalysts for a future reversal.

For new investors entering the market, what I want to say is: do not be blinded by short-term fluctuations. Study history, maintain patience, and you can stand undefeated in this market full of opportunities and challenges. After all, true wealth often arises from uncertainty.