Odaily reported that the current price of Bitcoin has fallen 22% from the historical high of $109,000 set on January 20, the day of Trump's inauguration. 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 "shakeout" - a sharp drop caused by the concentrated unwinding of long positions, followed by a rapid rebound. Bitfinex analysts pointed out that "multiple key technical indicators have turned bearish, triggering speculation about the premature end of the bull market. However, the 4-year cycle of Bitcoin is still a key factor, and history shows that corrections during the bull market cycle are a normal phenomenon. This is more likely to be a shakeout rather than the beginning of a bear market. The bottom of Bitcoin may form in sync with the US stock market (especially the S&P 500), and the $72,000 to $73,000 range is still a key support area, but the trend of global bond yields and the stock market will dominate the next move of Bitcoin. The risks of the trade war have been partially priced in, but long-term economic pressure may suppress sentiment." Nexo analyst Iliya Kalchev stated that "although Bitcoin's 4-year compound annual growth rate (CAGR) has dropped to a historical low of 8%, the halving event is still crucial to the long-term price trend. The halving in April 2024 will reduce the block reward to 3.125 BTC, and Bitcoin has already accumulated an increase of over 31% since then. Although the ETF buying driven by institutional adoption has been the main driving force in the past year, the halving effect will continue to impact the market."