In the Crypto Assets market, a Bear Market can actually be more profitable. Most of the time, it is actually a rebound within the hourly chart level, so the space for the rebound is quite limited. Contracts offer a high degree of flexibility, allowing for shorting at highs to be completely manageable, and the risk control is actually much smaller than in a one-sided rise trend.

Everyone has their own criteria for defining a bear market or a bull market, but strictly from the perspective of the overall trend, it is clearly the initial stage of a bear market now. In October, I mentioned that the boundary between the bear and bull market for BTC is 106000. Falling below this level will begin a one-sided downward trend. Clearly, this prediction about the overall direction is completely accurate. If you can't even see the broader direction clearly, it's impossible to make money in spot trading. For example, if you buy some spot near the 89000 level during a pullback, targeting 93850, you can first make a profit of 5000 and then take it. If it later falls below 88000, then buy again at 79200 and take another 5000 points before leaving. If you think the bottom at 89000 can push up to 98000-102000, then the bottom at 89000 might very well fail, and after the profit is given back, you might be reluctant to leave without profit, leading to being trapped after it falls below 88000, resulting in a loss of 10000 points. Even if you continue to buy in at 79200 with double the position, rebounding back to 88000 will only break even or yield a slight profit. This is equivalent to two phases of bottom-fishing being wasted.

Therefore, the judgment of the overall trend must not be wrong; if it is wrong, it will be absolutely impossible to make money through spot trading.