The long-term fundamentals of BTC remain unchanged: deflationary scarcity + global institutional compliance allocation. Interest rate cuts are expected to take effect in the second half of 2026, potentially pushing it over 100,000+. However, the short-term fluctuations and bottoming out will be prolonged, so do not go all in too early. Focus on spot dollar-cost averaging, and avoid contracts as much as possible to smoothly navigate the cycle.