After Bitcoin reached a high of $100,000, it entered a correction mode, which left many investors confused and entangled, leading them to speculate whether this is merely a brief pause in a bull market or if the market has reached its end.

First, let's analyze the key factor of Bitcoin's halving mechanism. As we all know, Bitcoin's production is halved every four years. Historical data shows that after the previous halvings, the market usually sees a true price peak about one to one and a half years later. Based on this timeline, the end of 2025 to the beginning of 2026 is more likely to be the peak moment for the market, and the current correction seems more like a halftime break. Furthermore, comparing the extent of the correction, this time it has only dropped by 30%, while looking back to 2017 and 2021, Bitcoin experienced significant corrections of 45% and 53% respectively. In contrast, the current correction is not considered exaggerated. Additionally, the cost line for miners is currently around $78,000, and if the price really falls to this level, miners, considering their costs, will be reluctant to sell their Bitcoin, which will provide certain support for the price, much like a natural moat.