Looking back at over a decade of Bitcoin’s ups and downs, I’ve witnessed countless entries and exits from the “danger zone.” This 25% plunge is just the start of another cycle. Factors such as ETF outflows, long-term wallet sales, and the Gamma effect in the options market have all combined to drive this drop. The break below the $85,000 level was particularly crucial, as market makers’ hedging further intensified the sell-off.

But history tells us that every “crisis” marks the beginning of a new opportunity. The 2018 bear market bottomed at $15,000, and in March 2020, prices crashed to $3,800—wasn’t hope always born out of despair? The current panic actually signals that the time to accumulate may have arrived.

Of course, blind optimism is just as dangerous. We need to calmly analyze all factors, including macroeconomics, the regulatory environment, and technological development. In the long run, Bitcoin’s fundamentals haven’t changed. This correction may be the necessary process for the market to deflate bubbles and return to rationality.

For veterans who have weathered multiple bull and bear cycles, the most important thing now is to stay rational, manage risk, and wait for market sentiment to stabilize. After all, in the world of cryptocurrency, the only constant is change itself.