Bitcoin Bull Market Cycle Analysis,

Key Turning Signals

The price dropped from $126,000 to $87,200, a decline of 30%$BTC $ETH $BNB

ETF funds have seen a massive outflow, with $3.55 billion exiting in November

The Fear and Greed Index has fallen to a historical low of 10

Miners have shifted from net accumulation to net selling, with reserves dropping to a historical low

Long-term holders are starting to transfer Bitcoin to short-term holders

Technically confirmed a bearish head and shoulders pattern.

Based on a comprehensive analysis of the Bitcoin market in November 2025, we believe the market is more inclined to be in a transitional phase from bull to bear.

Adopt defensive strategies, significantly reduce positions to below 10%, protect capital, closely monitor key indicators, and wait for clear bottom signals.