#美联储回购协议计划 On-chain data analyst recently shared an interesting observation: when the entire market forms a consensus of bearish outlook, it often signals a bottom.

Looking back at history, during the July to October wave last year and the February to April wave this year, the market experienced similar "everyone is bearish" situations — and the results were reversals. Such cycles usually last for a period, especially more pronounced in long-term bear markets.

We only entered this phase in early November, and now the market is heavily turning bearish, so it's indeed a bit late in terms of timing. Although technical indicators are still somewhat optimistic, in a bear market environment, caution is still necessary — no rushing. That's just how the market works — the consensus of the majority often points in the opposite direction.