[Yi Lihua: The biggest selling point for bears is the 4-year cycle, and the 2025 bear market is similar to the 312 phase of 2019–2020] According to a report by Jinse Finance, Liquid Capital founder Yi Lihua stated that the biggest selling point for bears is the 4-year cycle. In fact, 2025 will already be a typical bear market, similar to the 312 phase of 2019–2020, with a year-long sideways movement or even a black swan crash completing the washout. In 2025, $BTC will fluctuate between $100,000 and $80,000, while $ETH will fluctuate around $3,000 with a range of $1,500. However, when $ETH dropped to just over $1,000, we saw through the main force's intention to wash out Ethereum OG bulls and successfully bought the dip. When $ETH rose to over $4,500, we saw through the market's rise to the top of the consolidation phase and successfully exited our positions. Trend Research will have proven successful performance in buying the dip and selling at the top in 2025. We will not change our investment strategy due to emotions, nor will we be influenced by the noise of a few small retail bears. Their accounts and past performance lack any persuasive power—unless they, like us, can clear positions at $4,500 on-chain and turn bearish with real skill. Of course, they can earn some traffic and ad revenue during the bottom consolidation phase, which is also a way to survive. Our core focus is not to miss the crypto bull market cycle, but to seize this trend so that everyone can win together.