[Analyst: Recent Decline Is Not a Structural Disaster, But Profit-Taking After Sustained Gains in September and October] According to a report by Jinse Finance, BRN Research Director Timothy Misir pointed out in an analysis report that the recent market decline is not a structural disaster but rather profit-taking after sustained gains from September to October. However, it also reveals that the short-term upside potential remains highly dependent on stable spot demand (ETF, treasury bonds, corporate bond purchases). The 'whale' group still controls a significant proportion of Bitcoin supply and increased their holdings by approximately 110,000 Bitcoins in October. Currently, the market is in a digestion phase. Structural bullish sentiment still exists, but confidence is lacking. Prices will need new spot demand from ETFs or corporations to break upward.