A few days ago, investors were still discussing the "120K target." Have they quietly adjusted their expectations now? This is the true reflection of the crypto market. While the entire market was dreaming of six-figure prices, Bitcoin suddenly made a reverse move, dropping from its high point in just a few days back to around 90K, fluctuating repeatedly within the 86K-90K range, fully imprinting market anxiety on the chart.

It should be clarified that this decline was not a black swan event but a market "correction" process. As previously mentioned multiple times, when high leverage positions accumulate to a certain extent, the market's adjustment can become particularly fierce. This has been confirmed—once liquidity tightens, those chasing high leverage are caught off guard, and market sentiment shifts instantly from "bullish" to "panic selling," with the speed of the turn surprising.

From a historical perspective, Bitcoin has gone through multiple cycles of "sharp decline → consolidation → rebound." In May 2021, it dropped from over 60K to 30K; in 2022, from 40K to 20K. Each time, it followed a similar rhythm—initial rapid decline, then oscillation around key support levels for several days, and finally either a rebound or further bottoming out. The current situation is precisely in the "consolidation phase," and rushing to cut losses or blindly buy the dip is no different from giving away opportunities to the market.

Key judgment: As long as Bitcoin can hold steadily within the 76K-80K range, the long-term upward trend remains intact. Why do I see it this way? This price zone has repeatedly proven to be a strong support level in history, with active capital absorption each time it is touched, demonstrating a very strong "defensive willingness" in the market.