#加密货币市场趋势 Looking back over the past decade, the cyclical fluctuations in the crypto assets market have become a norm. This adjustment, although fierce, is not unprecedented based on historical experience. I remember the bear market of 2018, which lasted longer and had a deeper fall. Many people thought at that time that crypto assets were "dead," but it turned out that was just the beginning of another cycle.

Looking at Tom Lee's analysis now, it feels quite reasonable. The market indeed shows typical characteristics of deleveraging, which is very similar to the situation after the crash on October 10th. At that time, a large-scale liquidation was triggered by the mispricing of stablecoins, resulting in nearly 2 million accounts being wiped out, and market liquidity was instantly depleted. Such extreme situations often signal the end of a certain phase.

From a timeline perspective, if we follow Lee's 8-week cycle, we are now entering the 6th week, which is indeed close to the end. However, we must also be wary of being overly optimistic. Historically, similar adjustments sometimes last longer and even see a second bottom.

Regardless, this is the process of the market self-repairing. Excessive leverage and speculative bubbles are being squeezed out, laying the foundation for the next round of healthy growth. For long-term investors, this may be a good time to accumulate at lower prices. However, it is also important to remain cautious and manage risks, as market bottoms are often formed in despair.