It depends on macro factors. The Federal Reserve's return to balance sheet expansion after 26 years is likely, and if liquidity is abundant, it is also possible for Bitcoin to challenge 150,000 again. However, this does not mean I will buy in now, as I need to see concrete actions of liquidity easing, even if I might miss out on the potential for lower prices. To elaborate on why expansion is likely: 1. Sino-U.S. relations are tending to ease, and everyone is increasingly aware that actual conflict between the two countries is difficult; 2. The high interest rate environment in the U.S. is unsustainable. With the development of AI, the unemployment issue is becoming more severe, and the labor market can no longer bear higher interest rates; the financial market also cannot sustain high interest rates, and by 2026, a large amount of Private Credit will face concentrated renewal pressure.