Analysis: After a pullback from its highs, Bitcoin has entered a "reset period," with multiple phases of consolidation brewing for a new round of price movements.

CoinFeed reported on March 29th, citing CoinDesk, that after Bitcoin reached its all-time high of $127,000 in October 2025, the market quickly corrected to around $60,000 in the first quarter of 2026. While the volatility was significant, this was essentially a normal adjustment process driven by cyclical deleveraging and liquidity contraction. From a cyclical perspective, 2026 may exhibit a "multi-stage recovery": a bottoming out and deleveraging at the beginning of the year, a mid-term rebound, and a potential period of consolidation before entering a more sustainable upward trend. Similar patterns have occurred multiple times in previous crypto cycles. Currently, a defensive portfolio is recommended, gradually increasing risk exposure as liquidity improves. 2026 is more likely to be a "transitional year" than a one-sided bull or bear market, but this "reset" may lay the foundation for the next upward cycle.