#比特币价格走势与周期 Seeing the recent community debates about the $90,000 resistance level, I was reminded of the shadows of the 2017 cycle. Back then, there were similar disagreements—some firmly believed a breakout was imminent, while others sensed the risk. Now, looking at this warning of liquidity exhaustion and volatility dropping to historic lows, I recognize this signal all too well.

Low volatility often signals calm before the storm. Markets around Christmas have always been plagued by liquidity concerns, and the continuous squeeze on long contracts is like a tightly stretched string— the tighter it is, the more powerful the rebound, provided it doesn't snap first. Several major corrections in history occurred precisely when traders were least alert— during these strange periods when everyone is optimistic yet hesitant.

I'm not bearish, but reminding myself: the cycle pattern has never changed; participants just love to pretend this time is different. These market disagreements themselves indicate that everyone is at a critical point. True opportunities often emerge amid such uncertainty. But don’t forget, only after surviving this liquidity drought can the road ahead be traveled more steadily.