The essence of the market's tug-of-war between bulls and bears stems from the driving and transmission of market sentiment. In an upward trend, optimistic expectations continue to ferment, constantly pushing prices to break through new short-term highs; during a downtrend, pessimistic sentiment spreads, causing the market to keep probing lower and setting new short-term lows.

When the market enters a sideways consolidation phase, trading volume often shrinks accordingly. At its core, this is because the standoff between bullish and bearish forces remains unclear, leading most investors to choose to hold their assets and wait, temporarily refraining from action. As a result, both price and volume converge in a volatile, range-bound pattern.