Let's talk about the Bitcoin cycle. At the beginning of this cycle, it was not apparent that the cycle had deformed or changed. However, looking back from now, the core factor of the cycle's deformation is Trump! If welcoming Trump's presidency was once a hope, now it is despair. The core initiation of the cycle is loose liquidity, while Trump's tariffs and policies have blocked liquidity, causing the Federal Reserve to change its original plan and delay observing the economic situation. While the Federal Reserve delayed observing inflation, everyone hoped that Trump could damage the economy, forcing the Federal Reserve to cut interest rates to save the situation. However, Trump always seems to change strategies at the last moment, leaving the market empty-handed and hopeless! This back-and-forth has led the market into a turbulent trend with no movement. Therefore, looking at the Bitcoin cycle through these events, the so-called deformation and distortion of the cycle is actually a reason for delayed liquidity; one must wait nearby and not leave the market.