#比特币价格分析 Looking back at the history of Bitcoin, I have witnessed too much fluctuation. The recent fall is indeed significant based on the data. A 25% monthly decline reminds me of the Bear Market in 2018. However, the market structure now is vastly different.

The emergence of ETFs has brought new variables. The inflow and outflow of institutional funds have a more direct impact on prices than ever before. Another noteworthy aspect is the role of the options market. After the critical price level of $85,000 was broken, the hedging actions of options traders exacerbated the fall. This reminds me of the situation in 2017 when the Chicago Mercantile Exchange launched Bitcoin futures; new financial instruments always bring additional fluctuations to the market.

However, we must also recognize that this fluctuation is bidirectional. If the price can regain the range of 95000-97000 USD, it may indicate that the market is restoring balance. History tells us that Bitcoin always moves forward through ups and downs. It is important to stay clear-headed, not to be frightened by short-term fluctuations, nor to be lulled into complacency by temporary calm. After all, true long-term investors have long been accustomed to this rise and fall.