Bitcoin has fallen back to around $78,000, nearly erasing the gains from the last bull market. Last October, it surged to a historic high of $124,000, but has now declined for four consecutive months. The reasons behind this are very realistic: Waller has been nominated as the Federal Reserve Chair, hawkish expectations are rising; geopolitical tensions and funds are shifting to defense; accelerated deleveraging is driving the decline, and ETF funds are also flowing out. The good news is that the RSI has entered the oversold zone, Bitcoin's market share is close to 60%, and funds have not fled on a large scale. The market seems to be in a 'high-pressure wait', whether to continue panicking or to welcome a rebound will be crucial in the coming weeks. #BTC