Looking at recent Bitcoin movements, I feel like we're entering an interesting phase. After seeing it drop to around $59,930 at the beginning of the month, I read a report from Kaiko Research, which suggests that we are currently at the midpoint of a correction phase. In other words, after the hype following the halving, we're now in a typical 12-month correction period.

The trend in spot trading volume is quite alarming, dropping from about $1 trillion in October last year to $700 billion in November. Year-over-year comparisons clearly show that market momentum is weakening. Futures positions have also shrunk from $29 billion to $25 billion, indicating traders are gradually reducing leverage.

Looking at on-chain indicators, Bitcoin and Ethereum are near critical support levels in the four-year cycle. According to Kaiko data, there are multi-cycle oversold signals, so the rebound is more about "when" rather than "if." While the correction may continue until the market rebuilds liquidity on the scale of $21 billion, it’s still worth preparing for a long-term buying opportunity.