Recently, Bitcoin's performance has indeed attracted a lot of attention—ETF funds are flowing out, and the price has broken below some key moving averages. The market is buzzing with talk of "weak demand." It looks quite alarming, but we need to calmly analyze what is really behind this.

In fact, it is perfectly normal for coin prices to undergo adjustments within a cycle. The so-called "weak demand" in this round is mainly due to short-term outflows of US ETF funds and a slowdown in the growth of holdings by some large investors. In other words, the market currently lacks new incremental funds to push prices higher. But does this really mean the bull market is over? Not necessarily.

Looking back at the bear market from 2021 to 2022, similar signals did appear at that time, but the key difference is—back then, the market bubble was much larger than it is now. The background of the era, market structure, and participant maturity are all different, so simply applying historical patterns can easily lead to bias.

For ordinary investors, the most important thing is not to gamble on whether prices will go up or down tomorrow, but to stay clear-headed and plan scientifically. If you already hold positions, instead of being driven by emotions and risking everything, it’s better to adjust gradually and extend your holding period, leaving room for flexibility. If you are still watching the market, you can also use this pullback to gradually build positions, but the key is not to go all-in at once.

Finally, the most important point—spend more time learning rather than trading frequently. Focus on assets you truly believe in, and don’t let short-term volatility disrupt your rhythm. The market is always sending signals; the question is whether you can understand them.