If we rub the consensus this way, it will hurt the fundamentals.

Famous analyst Willy Woo stated that the bear market trend of Bitcoin is still ongoing and should be divided into three phases. According to Odaily Planet Daily, the first phase is the beginning, where Bitcoin's liquidity collapse has occurred in the third quarter of 2025, and prices have started to decline. The second phase is when the global stock market turns into a bear market, with all risk assets declining. The third phase is when the dawn begins to appear, liquidity improves, capital outflow reaches a peak and stabilizes. Bitcoin is currently in the first phase and is about to enter the second phase.