Let me share an interesting phenomenon – I looked up the historical holdings data of BTC whales, and it really confirmed my previous judgment.

After this drop to 81, those whales are buying up at a terrifying speed, and the accumulation is outrageous. Look at those voices online that are bearish, saying that JPMorgan is tricking retail investors into selling BTC; the timing is just too coincidental, right?

The data is clear: on one side, there are malicious statements flying around creating panic, while on the other side, the whales are quietly accumulating. Retail investors are scared into selling at a loss, and the chips are flowing directly into the pockets of the big players.

So my opinion is that this is not a bear market at all; at most, it can be considered a "consolidating bear". Someone is deliberately creating a downtrend atmosphere, and the purpose is to collect chips at low prices. The market plays like this, and experienced investors should understand.