Right now, the market is moving like this. You could say it's hanging by a thread, half dead and barely alive, but that might be a bit unfair—after all, it's not dead yet. If there's still hope for a comeback, it feels like at any moment it could just give out and be over.

Looking at the charts, since dropping below 90,000, Bitcoin has been consistently suppressed by the 4-hour EMA20 and hasn't been able to turn around. To show some strength, it needs to first break out with a big bullish candle and test 74,000, preferably even push straight to 79,000. Giving the retail traders a little hope of a rebound before then crushing them again would be more reasonable.
In the blink of an eye, next week is the New Year, and the holiday will start this Sunday. The previous "Spring Festival crash" market cycle should be over and transitioning into the "Chinese New Year market," right? Hopefully, the market will show some face, send out some red envelopes, and give the industry a little boost to keep going—otherwise, everyone might really start quitting.
Maybe the big whales will take advantage of the Chinese New Year when people are busy and sneak in a big dump to trigger a massive sell-off, then wait for retail traders to react at the end of the year, thinking the market is bouncing back, and then push prices higher again.
— An unfounded fantasy of a dead bull.