Many people believe that the addition of a Bitcoin spot ETF will lead to a continuous surge in prices. Personally, I think that the ETF reduces volatility. The ETF will indeed reduce the magnitude of Bitcoin's volatility. The ETF will bring about a very lasting increase. However, this increase will definitely not be as rapid as in the past. Therefore, the probability of moving in a range is very high in the future. If it falls, it will also fall in a range. If it rises, it will rise slowly in a range. I do not believe there will be significant volatility. Currently, at the time when the Bitcoin spot ETF has just passed this year, there will indeed be a surge because suddenly $50 to $100 billion has poured in, which has indeed caused a spike. But after the spike, there will certainly be a drop. As more and more money flows into the ETF, I personally believe that the ETF will gradually stabilize. The situations of sharp rises and falls will decrease. But there is a saying: after great heat, there must be great cold. It has risen sharply since February and has been fluctuating for several months, which may have digested a large portion already. I think the possibility of continued fluctuation will increase. After all, Bitcoin is benchmarked against gold, which currently has a market value of $17 trillion, while Bitcoin has a market value of $1.5 trillion. So there is still a gap, still a tenfold difference. Bitcoin still has room for growth. But from the current stage, I still see it as bearish, especially on Monday; I am bearish for next week. The CPI data shows that in the U.S., oil prices are falling, meaning that the oil price in October is lower than in September. In the U.S., which is largely a car-centric industry, almost everywhere requires driving. Oil prices are highly correlated with CPI data. Therefore, the CPI data for October, which will be released in November, is likely not to be very high, which usually means it may continue to decline, favorable for interest rate cuts. This is not good news for bears.