#比特币价格分析与预测 Looking back at the past bull and bear cycles, today’s market fills me with emotion. Bitcoin is approaching $90,000, hitting a new all-time high, and market sentiment is running high. This reminds me of the frenzied surge at the end of 2017, when short positions were massively liquidated and the bulls held absolute advantage. But the market is more mature now, with institutional participation providing more support.

Seeing $200 million in short positions forcibly liquidated, I can’t help but marvel at the market’s ruthlessness. This once again proves how risky it is to short in the cryptocurrency market. Thinking back to the brutal crash at the start of 2018, many investors who went all-in on longs lost everything. So even in a bull market, it’s important to stay alert and manage your positions sensibly.

Currently, Bitcoin’s market cap dominance is at 58%, Ethereum at 11.85%, and together they make up nearly 70%. This structure is similar to the end of 2017, with mainstream coins holding absolute dominance. However, the market size has now reached $3 trillion, a qualitative leap from before.

The UK is promoting tax policies favorable to DeFi investors, which is a positive signal. Thinking back to the crackdowns by various countries in the past, regulatory attitudes are now clearly shifting towards acceptance. Still, caution is needed, as policy direction can change at any time.

Overall, this rally has a solid foundation, but risks must still be guarded against. History tells us that staying calm amid frenzy is vital. After all, the market is always cyclical, and the peak will eventually arrive.