#比特币价格分析 Looking back at Bitcoin's historical cycles, I have witnessed too many price fluctuations and market sentiment swings. This time, the SOPR ratio dropped to 1.35, hitting a new low for the year, which reminds me of the correction period after the 2017 bull market. At that time, the market also experienced a round of profit-taking, and many investors were watching on the sidelines.

The current situation is quite similar to that time. Reduced selling by long-term holders indicates that the market is digesting the previous gains and preparing for the next upward wave. History shows us that this is often a sign of a local bottom forming.

However, we also need to be cautious of excessive optimism. The lessons from the 2018 crash are still fresh, reminding us that the market is always full of uncertainties. Although Bitcoin has retraced to $89,700, it remains in a high position overall.

Prudent observation and pacing are very important. For new investors, I recommend staying cautious and not blindly chasing highs. Experienced traders can consider buying on dips to prepare for a possible new rally. In any case, always remember the importance of risk management, which has been my most valuable lesson over the years.