The current market is in the 'adjustment relay' stage, temporarily suppressed by policy black swans, security events, and leverage liquidation, and may further dip to the range of $78,000-$80,000. However, in the long term, the institutional basis for Bitcoin, technological upgrades (such as the Ethereum merge), and potential policy dividends still support it. If the macro environment improves, it is expected to regain momentum in the second half of 2025. Investors should control their positions (recommended ≤10% of total assets), and pay attention to the $80,000 support level and the Federal Reserve's March interest rate meeting.
