Let's first talk about the overall direction: this bear market hasn't finished yet.

According to historical patterns,
the true bottom usually occurs about a year and a half before the next halving.
This time, it's most likely around the end of this year.
Plus, looking at on-chain data (like the cost basis still above 40k),
it indicates that we're still early in the actual bottom phase; the bear market has only gone halfway.
So, those online claims that a small rise means a bull market is coming,
you can unfollow me now.
Our levels of discussion are different.
And then, speaking of the medium-term trend,
it's the consolidation phase after our current second wave of decline.
Right now, BTC looks very strong,
but this strength is more fake than real #Gate广场四月发帖挑战 .
Essentially, it's a short squeeze pushing the price up,
meaning there are too many people shorting contracts, so it doesn't explode downward.