韭菜 割割

Currently, although BTC has plummeted nearly 35% from its high of $126,000, the overall trend should still be viewed as bullish. The short-term adjustment has fully absorbed the "five-fold impact," and selling pressure is nearing its end, with the long-term upward logic unchanged.

Core support comes from valuation reconstruction and institutional allocation dividends. JPMorgan estimates its reasonable valuation at $170,000, significantly undervaluing the current price. On-chain data shows that whales and long-term holders continue to accumulate at low levels, with mining costs forming a solid bottom support at $90,000. A new round of increases is brewing.

Although there is short-term uncertainty from regulatory aspects, the acceptance of traditional finance continues to deepen, with Bitcoin being recognized as collateral by mainstream institutions, gradually reinforcing its "digital gold" attribute. Current leverage levels have retreated, and volatility has converged, leading the market into a phase of consolidation. Short-term fluctuations do not alter the structural upward trend, and medium to long-term allocation value is becoming prominent.
$BTC

$XAN This cryptocurrency exchange hasn't run away, how come it's still pulling?