Why I Believe Bitcoin Is Less Likely to Completely Crash: Three Points of Analysis
1. Changing Participants: Spot ETFs + institutional long-term investment dominance, leverage far below 2021-2022 levels, reducing systemic liquidation risk.
2. Macro-Friendly Environment: During the easing cycle, pro-crypto expectations from Trump 2.0 still persist, and Bitcoin has partially become an "institutional asset."
3. Bottom Support: Unlike previous cycles where prices dropped to 30,000-40,000, this time the worst-case scenario is unlikely to fall below 50,000-60,000.
$BTC