The current market's pullback and trend, when compared to historical market conditions, have relatively loose criteria that we have set in order to obtain more data references.

By comparing with eight historical time points, we found that one point rapidly plunged into a bear market within a month, while another only began its bear market more than a month later, and the other six time points continued to rise, maintaining an upward trend for at least a month, with the strongest increase lasting even five months.

If we set the conditions stricter, the current situation resembles more closely to the period from December 2020 to January 2021. Therefore, I still maintain the view that the bull market will continue.

Of course, the market needs continuous observation. If the trends in January and February really do not meet expectations, I would choose to adjust my position to half in BTC and prepare to lie flat. As for the market in 2025, according to my expectations, there is no need to clear positions before the entire first half.