Wu Shuo learned that Fidelity's Global Macro Research Director Jurrien Timmer stated that Bitcoin may have completed the upward phase of this four-year halving cycle, with the $125,000 high in October likely aligning with the cycle's top characteristics. He pointed out that historically, "Bitcoin winters" typically last about a year, and 2026 could become a "year of rest," with key support zones around $65,000–$75,000. However, he still emphasized that he remains a long-term bullish (secular bull) on Bitcoin.