There is an interesting market phenomenon worth noting. When an asset's return exceeds 15% in the previous year, its performance in January tends to be quite weak—the average decline is about -0.04%, with only a 50% chance of gains. In comparison, since 1950, the average January return has been +1.07%, with a 60% chance of positive performance. The difference is significant.

Why does this happen? It mainly involves two factors. One is investors taking profits after a strong year, and the other is institutional portfolio rebalancing. The combination of these two forces often leads to a weak market trend in January. Although the crypto market is more volatile, this cyclical pattern is also worth considering for traders.