Recently, the market has seen significant fluctuations, and everyone should operate cautiously.

A question that has been repeatedly mentioned recently: is the market at the end of a bull run or the beginning of a Bear Market? Many investors do not understand why the market can change so suddenly. However, those who have gone through several cycles know that trends are never just talked about; they are carved out step by step through prices. This year, Bitcoin has fallen from $126,000 to $94,000, and altcoins are in a state of despair. Drops of 70% to 80% are everywhere. During the most euphoric days, some altcoins surged three to five times in a single day. This scene seems familiar - the last time such madness occurred was at the end of 2021, followed by a long liquidation period. At that time, some people in the market warned of risks, but they were labeled as "bearish." Now, the $19 billion in leveraged liquidation data has become the strongest response. This adjustment is not a sudden event. From the moment the emotions soared, the script was already written. This year happens to be the 18th month after the halving, and historical data shows that every cycle tends to cool down at this point. Bitcoin can barely stabilize with the support of institutional funds, but what about altcoins? The buying support has vanished, and the decline is more ferocious than anyone else's. The technical aspect is also not optimistic: · 200-day moving average lost · The 365-day moving average could not be held either. · The market is generally focused on the key support level of 72,000. With the Fed's hawkish statements and tightening liquidity, bearish factors are coming together. The so-called "year-end market" is likely to be a disappointment this year. What will the trend be at the end of the year? Relatively straightforward: a fluctuation between 80,000 and 90,000. If it falls below 80,000, it may officially enter the next cycle. But this does not mean complete pessimism. The net inflow of ETFs on a single day is still $253 million, indicating that large funds are still present, just choosing to wait and see rather than rushing to bottom fish. The crypto market never moves in a straight line. It will pull back when it rises to the extreme, and it will rebound when it falls to the extreme. We are at the tail end of a market phase, waiting for the next one to gradually emerge. Instead of debating whether to call it a bull run or Bear Market, it is better to focus on three things: · Keep cash reserves · See the trend direction · Avoid impulsive trading True opportunities never emerge in the noise, but quietly appear when everyone is silent. Patience is always more valuable than short-term fluctuations.

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