As a Bitcoin spot holder, I have observed the ongoing trend of BTC's market share relative to gold expanding over the past decade—this overall direction remains solid.

However, from a mindset perspective, I will set a warning line: if BTC falls below the low point at the end of 2022, then I need to seriously reconsider whether the long-term bullish thesis needs adjustment. As long as it stays above that level, the story continues. The data is there; the key is whether the support can be maintained.