Opinion: Long-term BTC holders are still waiting for a higher exit price, beware of the "bull market trap"

Trading expert Kirill Kretov warns investors to be extra cautious in the current environment: The market is still fragile and easily manipulated. Retail investor activity is sluggish, trading volume is thin, and even so-called smart money is watching from the sidelines. The real power that has the ability to drive the market chooses to stand still, which is no coincidence.

Kirill Kretov believes that long-term holders of Bitcoin who have survived previous cycles are still holding their positions, waiting for a higher exit price. This "reluctance to sell" behavior creates market selling pressure and exacerbates price volatility vulnerability. Although volatility may wash out over-leveraged retail investors, he points out that only when long-term holders are forced to sell off completely can a "pure stage" be created for large investors to establish new positions. Until then, any rebound carries risks as they could lure impatient bulls into the market only for them to encounter sharp reversals - this is a typical bull trap in low liquidity environments (Bloomberg).