Bitcoin, as the most widely watched cryptocurrency worldwide, continues to influence market sentiment into 2026. After experiencing a correction from its peak in 2025, multiple on-chain indicators at the beginning of the year suggest that the selling wave is nearing its end, with long-term holders gradually transferring their chips to new long-term investors, maintaining a stable market demand structure. In mid-April, Bitcoin's price briefly touched $75,000, but due to geopolitical conflicts at the start of the month, it also temporarily dipped to $66,341. Within a week, over 180k traders were liquidated, and market volatility remains intense. Currently, institutional opinions on Bitcoin's trend this year are divided: one side believes that a rate-cutting cycle combined with institutional capital inflows will push it to new highs, while the other insists on the four-year cycle pattern, judging that this year will still be a consolidation phase, with future trends remaining uncertain. It should be noted that Bitcoin trading is not legally protected in our country, and investors should be highly cautious of risks.