Based on the current market's pullback and trend, compared to historical conditions, we have set relatively lenient criteria with the aim of gathering more data for reference.

By comparing with eight key historical points in time, we found that one of these points saw a rapid decline within a month and entered a bear market, while another only began its bear market over a month later. The remaining six points continued an upward trend, lasting at least a month, with the strongest upward movement even sustained for five months.

If we tighten the criteria further, the current trend is quite similar to the situation from December 2020 to January 2021. Therefore, I still believe that the bull market is likely to continue.

Of course, the market still needs to be observed continuously. If the trends in January and February do not meet expectations, I will adjust my positions, reducing my holdings to half a position in BTC and preparing to respond to potential adjustments. As for the market conditions in 2025, according to my expectations, there is no need to liquidate before the entire first half of the year.