Crypto World News Report:
It seems that the current rush into trading remains somewhat impatient. Following the last weak rebound before the market accelerated downwards, BTC is currently in a phase of consolidation with a potential triangular convergence, starting from the high point set by that rebound.
Therefore, the optimal trading opportunity would be to await the breakout of this convergence pattern. Prior to this, any subjective operations would be considered speculative trading, and one should use signals to enter the market on the right side as stop-loss signals on the left.
Early this morning, breaking directly below the previous 4-hour low, the next target is the daily low level of 56,500. This demonstrates a very promising trend structure. Why? Secondary waves in a bull market always have time windows. For instance, during the last bull market, from the second sell-off at 59,000 to the bottom at 28,000, it took a maximum of 40 days. Currently, it has already been close to a month.
At present, it seems to be just oscillating. My personal recommendation is to adopt a wait-and-see approach. I do not wish to participate in this kind of tug-of-war between bulls and bears without direction. However, despite this converging oscillation, volatility continues to increase, indicating it may only be a continuation or reversal, with a larger trend likely brewing next. Patience is key—hold steady!
At this point, I begin to reminisce about the 2021 bull market, with the rise of DeFi and the birth of NFTs, new financing models, and narrative concepts. Each day, I feel the pulse of this industry’s rapid iterative progress.
Now, looking back at this current bull market, even the term “bull market” seems somewhat inappropriate. Tokens and memes can’t compare to the innovations of past bull markets. The only narrative that seems worth mentioning is the acceptance of BTC by traditional finance.
However, the market sentiment driven by ETFs will eventually follow the ETFs themselves. As long as ETFs do not see net inflows exceeding $100 million, the market will choose oscillation or decline. This is completely at odds with the long-term bull market seen after the launch of the gold ETF.
Moreover, the halving has also been halved, and the expected halving cycle bull trend is starting to become awkward over time. I really start to question:
Is this really a bull market?
Where did things go wrong?
Could it be that this market still relies on speculation rather than innovation?
Can cryptocurrencies truly achieve their ultimate value through self-profitability?