The current market has once again entered the "mini stagnation" phase, with Bitcoin continuing to experience reduced volatility and the price firmly locked within a narrow range, lacking a sense of direction.

Overall market sentiment is noticeably low, with both bulls and bears primarily observing, trading volume continues to decline, and on-chain activity is also weakening.

In the short term, if there are no external positive drivers, the market may remain in a stalemate.

However, low volatility often indicates that a new trend is brewing, and we should be wary of the impacts brought by sudden changes.