#比特币价格走势 Looking at the recent market data, I want to discuss the logic behind this wave of correction. Santiment's analysis indicates that the panic sentiment on social media is not yet deep enough, which is actually a very interesting signal — the true bottom often occurs when most people are in despair, and right now many are still expecting a quick rebound, suggesting we may not have reached that point yet.

From the demand side, CryptoQuant's data shows that the surge in spot demand for Bitcoin is waning, which indeed puts pressure on prices. But this is also part of the normal cycle. Fidelity's analytical framework makes this clearer — Bitcoin's four-year halving cycle has entered the adjustment phase, and a cold winter lasting about a year is a historical norm.

The key here is that market adjustments ≠ the disappearance of investment opportunities. On the contrary, it is precisely during these uncertain times that we can truly reflect on the long-term value of Web3. As a pioneer of decentralized currency, Bitcoin's cyclical fluctuations fundamentally reflect the ongoing maturation of the entire ecosystem. Every bottom marks the start of a new cycle.

Rather than obsessing over short-term prices, it’s better to use this time to gain a deeper understanding of the real progress in tracks like DeFi and DAO. In the long run, projects that continuously create value are the ones worth paying attention to.