#数字资产市场动态 The four-year cycle of Bitcoin has not yet reached its end, or has it already concluded? ReserveOne investment officer Sebastian Beau says it's still uncertain. Opinions in the market vary, and that peak in October might be a precursor to the downturn in 2026.

Interestingly, retail investors have been quite active lately, and frequent buying and selling is one of the reasons for Bitcoin's correction at the end of the year. However, institutional investors are gradually buying in, which has somewhat stabilized the decline.

Senior trader Peter Brandt made a prediction: Bitcoin might drop to $60,000 around Q3 2026. Hougan believes that although the Trump administration has shown some improvement in its attitude toward the crypto space, the actual impact on prices is limited—what really matters is clear regulatory positioning, which is more meaningful.