#加密市场动态分析 Seeing this news, I can't help but recall my experiences of struggling in the market back in the day. The demand structure for Bitcoin is indeed quietly changing, which is a signal worth being cautious about for us old players.

In the past, bull and bear cycles were relatively easy to predict, with long-term holders buying during bear markets and selling during bull markets, forming a classic "cup" pattern. But now the situation is different, as the influx of institutional funds and regulated products is changing the rules of the game.

The pace of this decline has slowed down, and long-term holders are not in a hurry to buy the dip, indicating that market behavior is changing. In the past two weeks, there has even been a noticeable selling pressure, which makes me wonder: Is there a big player manipulating behind the scenes?

The future price trend may no longer be dominated by the fear and panic of retail investors, but rather depend on how large funds make their decisions. This means greater uncertainty and risk for us ordinary investors.

My suggestion is: stay highly vigilant and do not easily chase up or cut down. Closely monitor institutional movements and changes in regulatory policies, and do a good job of risk control. Remember, in this ever-changing market, living long is more important than earning more. Let us stay clear-headed together and not become someone else's leeks.