The characteristics before the start of each major cycle are often very similar. Observing the market data from December last year, it can be seen that before a true upward trend unfolds, negative information tends to flood in—continued bearish news, low public sentiment, and retail investors are more likely to exit during this period. Those investors who can坚持持仓 during the decline usually end up profiting when the cycle reverses. This recurring pattern is worth deep reflection for every trader—the market bottom often hides within the most pessimistic voices.