Market sentiment is approaching a breaking point, and Ni Da hasn't written a long article in a while, interpreting many recognized parts within:

1️⃣ Currently, the Bitcoin market is neither a complete bull market nor a complete bear market, but it has indeed completed a full cycle in the short term, mainly due to high interest rates and liquidity constraints.

2️⃣ In the absence of an economic recession, Bitcoin's price support level is around $70,000, primarily supported by ETF inflows and strategic buying. However, if an economic recession triggers panic selling, the price may decline further.

3️⃣ In the long term, a bull market is expected in the next 2 to 3 years, closely related to anticipated monetary easing policies (such as lowering interest rates and quantitative easing).

4️⃣ It is recommended to gradually build positions between $70,000 and $80,000.

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