Bitcoin's rise is driven by consensus-driven capital inflows; the larger the market cap, the more capital is needed for further increases.

It reached 100,000 in February 2025, fluctuating between 100,000 and 120,000 from May to November, accumulating a massive amount of trapped positions. Now that it has fallen to 60,000 and rebounded, which big funds would be willing to be the bagholders?
$BTC During the drop from 98,000 to 60,000, there was a historic level of panic selling pressure. The largest single-day turnover in two years occurred at the 60,000 level, indicating many people still believe in this support level.
However, the rebound only reached 72,000 before stopping abruptly.
What does this mean?
While the support level consensus is strong, a bear market is still a bear market. Profit-taking is still significant, and selling pressure remains high. Without enough big players entering the market, a true reversal cannot be achieved.
Currently, the three main drivers in the crypto space are liquidity, attention, and the chip structure. Each one is worse than the last. Short-term, don’t even bother; long-term, how do you define it? If 90% of the trapped positions decide to cut losses and exit now, it could bottom out in about a month. If 90% choose to hold on stubbornly, then at least wait a year.
Referring to the previous high in November 2021, it took until May 2024 to break even. The current high at 126,000 might not see a break-even until 2028. #我在Gate广场过新年