The current cryptocurrency market is in a bear market status. Despite Bitcoin's relatively strong price, most altcoins have significantly declined, and market liquidity is exhausted, with a strong risk aversion sentiment among investors.

On the macroeconomic front, expectations for interest rate cuts are far off, with stubborn inflation and recession risks coexisting; technically, Bitcoin has entered a weekly adjustment phase, and the decline in price and duration may further expand.

Market sentiment is pessimistic, retail investors' confidence is overstretched, the period of easy profits has passed, and the threshold for making money has increased. It is advisable to operate cautiously, avoid blindly trying to catch the bottom, and preserve strength to follow the larger cycles more steadily.