An old cycle has ended, and after this round of decline, a new cycle begins. Before the new cycle, Bitcoin ancient whales made too much profit and have been continuously selling. Multiple ancient whales have sold out, and early participants in the ICO of ETH, including whales from distributed capital, have mostly liquidated as well. After the new cycle begins, without these profit-taking positions, the market will feel much lighter.

The previous whales had a BTC cost of $1000, while the current whales, which include various institutions, have a BTC cost of $80,000.

The development of an upward trend requires sharp fluctuations to complete the washout and turnover. No pain, no gain!

In a bear market, only invest in BTC through dollar-cost averaging, but keep some capital on hand to prevent a drop to $80,000. Remember, no one can perfectly time the bottom, and it may still fall after buying the dip; we can only grasp the overall direction.