#比特币价格走势与预测 Looking at this wave of the market, a familiar feeling is surfacing. The all-time high of $126,000 occurred in October, followed by that classic cliff-like decline — I've seen this pattern more than once.

Do you remember the frenzy at the end of 2017? Back then, everyone was talking about Bitcoin reaching ten thousand dollars, but by the start of 2018, a prolonged bear market had begun. This time, Trump's "pro-cryptocurrency" expectations indeed ignited the market's imagination, but ultimately, the market was constrained by harsher realities: tariff wars, macro tightening, high leverage liquidations — no one can ignore these fundamentals.

The most heartbreaking data is this: the gains for the year have been completely wiped out, with a total market cap evaporation of 1 trillion dollars. I once thought this time would be different, that institutions had truly arrived, and mainstream adoption was near. But history reminds me that Bitcoin’s four-year cycle pattern is deeper than any political trend. In November, it broke below $81,000, marking the largest monthly decline since 2021 — this rhythm is all too familiar — just when prices are at their peak, reality tends to shatter expectations.

Interestingly, regardless of market volatility, institutions like BlackRock and Coinbase continue to expand their positions. This is the real signal worth paying attention to. Retail investors are in fear, but true long-term players are quietly accumulating. The outcome of the next cycle may already be quietly decided in this bloodbath moment.