Recently, a friend asked me: Does the frequent statements from the regulatory authorities mean that a Bear Market is coming? Bitcoin has fallen below 92,000, Ethereum has returned to 3,000, and will it continue to fall in December?

First, let me clarify a point that many people easily confuse – regulations target gray areas and illegal operations, while compliant trading is not affected at all. Mixing up policy interpretation with market trends is the beginning of losing money.

Looking at the technical side, many people scream Bear Market as soon as they see the price retrace. In fact, from the daily chart perspective, the downtrend has already completed. This wave of pullback feels more like a consolidation action after a rise—clearing out panic sellers and those who are indecisive, so that the chips can be redistributed.

During a period of fluctuations, the biggest taboo is to be led by emotions. When prices rise, they chase the highs; when they fall, they sell at a loss. These are often the people who end up getting slapped in the face over and over.

The market never reveals the script to you in advance, so don't rush to draw conclusions about the trend.