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Bitcoin experienced a noticeable sell-off on Tuesday, bringing its rally to a halt. The gains accumulated since the beginning of the year nearly all gave back, which truly worried many holders.
From the data, Bitcoin has risen over 7% since the start of the year, with a peak of $94,420 during Tuesday's trading session, marking a solid short-term high. This rally also triggered a rotation in the entire cryptocurrency market, with altcoins following the broad upward trend. The total market capitalization increased by approximately $250 billion during this week's price movements.
However, many industry insiders say not to be too pessimistic. This pullback is just a normal correction within Bitcoin's long-term upward channel, and short-term fluctuations are not enough to change the overall trend. After all, the market is like this—highs and lows—and being able to stay calm during a pullback is what makes a true investor.