The halving rally lasted for more than half a year, and what happened? It dropped 30% straight from the high, and now it’s stuck around $90,000, with the price swinging back and forth. Honestly, it’s normal to feel anxious watching this kind of movement.

But if you think about it calmly, this correction isn’t actually that dramatic. The market sentiment just took a heavy hit and is still in the recovery phase, barely getting back on its feet—how can you expect it to immediately pick a direction?

This is the most nerve-wracking time: prices are jumping up and down, you’re afraid of buying the top if you chase, but also scared of catching a falling knife if you try to bottom fish. But from a few perspectives, it’s not entirely without logic.

Capital always finds a way. If Bitcoin really stabilizes, money will naturally flow elsewhere. Just look at Ethereum’s L2 projects—their total value locked has piled up to $80 billion, and the DeFi and AI sectors are clearly gearing up for something big. Just keep an eye on whichever part of the chain starts heating up next.

On the macro side, the probability of the Fed cutting rates in December is already close to 90%, which is obviously good news for risk assets. As long as inflation doesn’t suddenly spike, the market will likely remain bullish; but if there’s a sudden policy shift, there will definitely be some short-term volatility.

Technically, it’s simple: whether there’s a breakout with volume is key. If it breaks out, sentiment will pick up immediately; if not, the price will have to pull back and find support. Watch the changes in large holders’ positions and trading volume closely these days.

Right now, market sentiment is indeed tense—panic hasn’t fully subsided. But often, this is exactly when low-entry opportunities appear. Of course, the risks are still there: regulatory policy or protocol security issues—either one could be a major setback.