After Bitcoin reached a high of $100,000, it entered a correction mode, leaving many investors confused and torn, as they began to speculate whether this is merely a brief pause in a bull market or if the trend has already come to an end.

First, let's analyze the key factor of Bitcoin's halving mechanism. It is well-known that Bitcoin's production is halved every four years, and historical data shows that after previous halvings, the market typically experiences a significant price peak about 1 year to 1.5 years later. Based on this timeline, the end of 2025 to early 2026 is more likely to be the peak moment, while the current correction seems more like a halftime break. Additionally, when comparing the extent of the correction, this time it has only fallen by 30%, whereas looking back to 2017 and 2021, Bitcoin saw significant corrections of 45% and 53%, respectively. In comparison, the current correction is not exaggerated. Furthermore, the cost line for miners is currently around $78,000. If the price does drop to this level, miners, considering their costs, would be reluctant to sell their Bitcoin, which would provide some price support, much like a natural moat.