Some insiders have recently expressed a view — just stop paying attention to short-term price fluctuations. The reason is simple: at this moment, Bitcoin's fundamentals are indeed very solid.

Let's look at some factors supporting this judgment. The spot ETF has opened the channel for traditional capital, and institutional funds are just beginning to enter; long-term positioning is still in the early stages. Meanwhile, the halving cycle is entering a countdown — less than a month until the block reward halves, and historically, stories of scarcity have played out before and after each halving. Additionally, on the macro front, expectations of rate cuts have been fermenting, and the global liquidity turning point may be just around the corner.

This is not wishful thinking. At the bottom of each cycle, it's often when most people are still hesitating, and a few are starting to become greedy. Fundamentals never suddenly improve during market frenzy; instead, they build a solid foundation during quiet and deserted times. Short-term prices are like votes, volatile and unpredictable; long-term value is like a scale, heavy and substantial. True big players have long stopped caring about a few hundred dollars' rise or fall in the short term.

So the question is — are you still trapped by short-term fluctuations, or are you trying to see through the fundamentals and position yourself early? These could lead to two completely different outcomes.