Internet reports that the current price of Bitcoin has fallen 22% from the all-time high of $109,000 set on January 20, Trump's inauguration day. Although investor sentiment has repeatedly fallen into the "extreme fear" zone, crypto analysts generally believe that the Bitcoin bull market cycle has not yet ended, and this decline may be a "shock"-a sharp decline triggered by the concentrated liquidation of long positions, followed by a rapid rebound. Analysts at Bitfinex pointed out that "a number of key technical indicators turned bearish, triggering speculation that the bull market would end prematurely. However, the Bitcoin four-year cycle is still a key factor. History shows that corrections in bull cycles are normal, and this time it is more likely to be a shock rather than the beginning of a bear market. The bottom of Bitcoin may form simultaneously with U.S. stocks (especially the S & P 500), with US$72,000 to US$73,000 still being the key support range, but global government bond yields and stock market trends will dominate Bitcoin's next move. Trade war risks have been partially priced, but long-term economic pressures may suppress emotions." Nexo analyst Iliya Kalchev said,"Although Bitcoin's four-year compound annual growth rate (CAGR) fell to a historical low of 8%, the halving event is still critical to long-term price movements. The halving in April 2024 will reduce the block reward to 3.125 BTC, and Bitcoin has risen by more than 31% since then. Although ETF buying caused by institutional adoption has become the main driving force in the past year, the halving effect will continue to affect the market."