#比特币价格波动 Watching Bitcoin bounce between 85,000 and 90,000 USD, I actually think this kind of "stagnation" is a good thing.

Remember the days a few years ago when prices would surge and plummet? Wall Street was bullish, retail investors followed the trend and pushed prices higher, only to get trapped. This time, the market is different — institutions are singing cheerful Christmas carols, but Bitcoin remains unmoved, and market divergence is clearly on display. This is actually a signal: not all calls can be fulfilled, and not all optimism can withstand verification.

I've met quite a few old hands who have been fooled by "seasonal optimism" too many times. Every year-end, someone tells stories about "capital inflow" and "Christmas rebound," but those who follow the trend end up regretting it in January of the next year. This time, Bitcoin's refusal to follow the trend actually illustrates a truth: the expectations of true institutional players and retail investors are completely on different channels.

During this range-bound oscillation, the most important thing is not chasing highs, but observing. Who is building positions, who is selling off — these are the things to watch. Blindly following Wall Street's optimistic sentiment is often the reason for the next cut. Living longer is more valuable than living faster.