[The Crypto Industry Needs a 'Reset' Before the Next Bull Market] According to a report by Jinse Finance, since Bitcoin reached its all-time high of $127,000 in October 2025, the start of the first quarter of 2026 has been turbulent, with Bitcoin plunging to a low of $60,000 in less than five months. Although such dramatic volatility is painful, the reality is not as dire as it seems: the market is undergoing a necessary adjustment to lay the foundation for a stronger cycle ahead. When the macroeconomic environment weakens, geopolitical tensions rise, and traditional markets falter, the crypto market often bears the brunt of selling pressure. Currently, multiple factors are combining to exert significant pressure on the crypto market: rising counterparty risks, tightening global liquidity, weak technical trends, reduced ETF inflows, and increasing stress on the credit and banking systems. However, such phases are not anomalies in the digital asset market; they are part of a larger cycle—and for those willing to discern the trends, they signal opportunities for the future.