What stage is the bear market currently at???

This bear market cycle that started on October 7, 2025, has gone through approximately 2 stages.
First wave trend decline➕ rebound repair phase, October 7, 2025 ~ November 21, 2025, from 126000 to 80000, first wave trend sharp decline phase, duration 45 days.
November 21, 2025 ~ January 14, 2026, repair rally after the first wave trend decline, rebounding from 80000 to 97900. Decline continuation consolidation phase, duration 55 days.
Second wave trend decline➕ rebound repair phase, January 14, 2026 ~ February 6, 2026, sharp decline from 97900 to 60000, second wave trend sharp decline phase, duration 24 days.
From February 6, 2026 to now, rebounding from 60000 to 76000 then to 67600 and back up to 70000, decline continuation consolidation phase, current duration 47 days.
The longer the horizontal movement, the higher the vertical movement.
Conversely, the longer the vertical movement, the horizontal movement must also match.
I tend to believe the consolidation period has not been long enough yet, insufficient to produce a sharp decline similar to the third wave trend.
Currently it can be defined as the mid-to-late stage of the bear market.#BTC突破71000美元