#比特币市场分析 Looking back at the Bitcoin market during this period, it really evokes a lot of feelings. The news that the listed company Sequans sold 970 Bitcoins to reduce debt reminds me of past cases of selling at the peak of a bull run. History is always remarkably similar, but the details are different. This company still retains 2264 Bitcoins, indicating their confidence in this market. The decrease of the debt to net asset value ratio from 55% to 39% shows their cautious attitude in balancing risks and opportunities.

This strategy reminds me of the big bull run at the end of 2017. At that time, many institutions did the same, cashing out profits while keeping their base positions. The result, as we all know, was that the market entered a long bear market afterward. What is different about the current situation? Bitcoin has gone through several bull and bear cycles, and the market is more mature, but uncertainty still exists.

From a longer historical perspective, this phase of profit-taking is actually healthy. It helps the market digest the bubble while retaining the momentum for long-term growth. The key is to grasp the rhythm and measure. Excessive selling may miss out on future surges, while not selling at all could pose significant risks.

For those of us who have experienced multiple cycles, the most important thing is to stay clear-headed and patient. The market always moves forward amidst fluctuations; it’s crucial to focus on the big trends rather than getting blinded by short-term volatility. A new bull run will eventually come, but before that, we still need time to accumulate and settle.