$BTC is currently challenging the historical second consecutive 5 weeks of closing with losses. Many people see risks, but I see emotions being rapidly pushed to their limits. The last time such an extreme continuous decline occurred was at the end of the bear market from 2018 to 2019, followed by Bitcoin having 5 consecutive weeks of gains, with the entire segment recovering nearly 4 times.

The market has never bottomed out amidst a chorus of bullish voices, but rather completes a handover when most people begin to doubt the bull market. Continuous losing streaks are essentially a concentrated clearing out, where weaker hands are washed out, and the chips will then return to the hands of those with more patience.

I believe this period resembles a deep pullback in a bull market, rather than the starting point of a new long-term bear market. The more people are pessimistic in such positions, the easier it is for a decent rebound to occur.