On-chain analysis firm CryptoQuant's research has uncovered an interesting phenomenon: when market participants form a highly consensus bearish outlook, a counter-move often follows. In simple terms, most people's judgments are often wrong.

Looking at history makes it clear. From July to October 2024 and from February to April 2025, the market experienced such moments of extreme consensus. Whenever these phases occur, especially in a prolonged bear market environment, significant reversals tend to happen. These rebounds often last for quite some time, enough for early movers to reap the benefits.

Since early November, we have just entered this phase. Now changing to a bearish outlook? It's a bit late. Although current indicator signals are still somewhat optimistic, one should not let their guard down in a bear market. True opportunities often arise when everyone is despairing, but only if you survive long enough and hold steady. Bitcoin's volatility pattern is like this—patience and risk awareness are equally important.