🔥🔥🔥In October 2025, Bitcoin surged to $126,000 amidst policy dividends and emotional frenzy; by now, in February, it has only 55,000–60,000 left. Many people ask: is this another 'scam collapse'? I think quite the opposite, this is not a crash, this is a standard financial narrative retreat.
During the uptrend, Bitcoin was described in three ways: 'policy release', 'institutional entry', 'digital gold'. But during the correction phase, the only thing that truly determines the price is whether there is new capital to take over.
When macro liquidity begins to tighten and risk appetite decreases, the first assets to be realized are always those supported by narrative rather than cash flow. Bitcoin's issue has never been 'is it valuable', but rather that its value can only be fully priced at times of extreme emotion.
$126,000 is the price given by emotion;
$60,000 is the price given by liquidity.
If you treat it as faith, you will feel betrayed; if you treat it as an asset, you will find — this is just a cycle retracement that is too familiar to be unfamiliar.
The real discussion is not whether Bitcoin can return to $100,000, but rather: before the next round of macro easing arrives, are you still willing to hold onto it?
