#BTC资金流动性 Why is losing money in a bull market more painful than losing money in a bear market?

In simple terms, it's about psychological contrast. When your profits retreat, you're losing something you've already gained, and that feeling can be hellish; in a bear market, when you're trapped, everyone has already given up, so it doesn't feel as bad—because there's no hope left.

From a psychological perspective, people's emotional response to "loss" is much stronger than to "gain." Here's a straightforward comparison:

Suppose a trader starts from zero:
- Daily emotional baseline at 10~30 points
- When floating profits reach 10 million, emotions spike to 90~100 points
- Then all profits are lost, and emotions drop to -100 points

Calculating this, the pleasure of making money is only 70~90 points, but the pain of losing it is 190~200 points. That's why many say "profit retracement hurts more than being directly trapped."

The reason a bull market can wash out some people is this very logic. When prices drop from a high point, those with floating gains are forced to sell due to this emotional mechanism. Conversely, in a bear market, because expectations are lower, people can hold on longer.

Interestingly, some veterans actually prefer the feeling of being trapped—that's a process of waiting for hope. Profit retracement, on the other hand, is a gradual loss of hope. The former, with no high expectations, feels more comfortable; the latter, with high expectations, is more prone to collapse.

This also explains why major players find it hard to sell off in a bear market—trapped retail investors have already given up, with no emotional fluctuations, so there's no selling pressure.

Investment advice: if you start feeling comfortable while holding a position, you're usually not far from a retracement. Feeling comfortable in trading markets is itself a risk signal.

Keep following the trends of $ZEC, $XRP, and $SOL to sense the true pulse of the market.