The cryptocurrency market has been under continuous pressure recently, with BTC falling below the $80,000 mark within three weeks. The panic and greed index is in the "extreme fear" zone, and investor sentiment is pessimistic. However, whether the market bottom has been reached is still a question worth discussing. Based on the current market trends, despite the extremely low market sentiment, it is difficult to assert from a Technical Analysis perspective that the market has bottomed out.

In history, mainstream currencies such as BTC have experienced multiple rounds of cyclical declines, often with brief rebounds during the downturn. Although the market seems to have some support in the short term, the current downward trend has not yet fully ended, and market sentiment has not been effectively repaired. Therefore, BTC and other major encryption assets may face further price corrections, and the current price does not provide complete safety margin.

My investment strategy is to gradually layout in the market continues to fluctuate. When it touches below $70,000, consider increasing positions, especially for ETH and some potential Layer 2 protocol tokens like Arbitrum (ARB). The technical development and market demand for these currencies are relatively strong, and they still have a high potential for value appreciation in the long term.

Therefore, I believe that the market has not yet hit bottom, investors should remain cautious and wait for a more favorable entry opportunity. #加密市场进入熊市了吗