Let me briefly describe the reasons for the recent surge, and my opinion on the so-called "bull return". First of all, the reasons are the positive factors of Bitcoin's surge of 10%. The first is the news of the postponement of the compensation of Mentougou, which may mean that the sell-off caused by the compensation will be postponed. Previously, the news of Mentougou caused Bitcoin to plummet several times, and the market is more sensitive to this news. The second is that Harris has made a clear statement in support of cryptocurrency. At present, her approval rating is far behind Trump, and she may want to use this as a last-ditch struggle to canvass votes. After all, there is not much time left for the election, and she may "play a big trick" in this regard in the future, which is worth paying attention to. The third is to start taxing the overseas investments of the super-rich, and the relevant tax rate may be as high as 20%, which in disguise increases the demand of the rich for cryptocurrencies, especially Bitcoin. The fourth is that Musk donated $75 million to support Trump. According to the Federal Election Commission documents, Musk donated $75 million to the US Political Action Committee that supports Trump. Let's talk about the view of the "bull return".

I think this is a normal rise in the past few days, not the kind of rise that can bring BTC to $100,000 all the way, and you must blindly chase it. Because the average daily trading volume of Bitcoin during this period is not high, it is not enough to produce a large unilateral market. It can be seen that after rising above 68500, it quickly fell back to 67100. The resistance at the high point is very strong, and it fell at the resistance level twice. Today, a more stable way is to buy on dips or buy on pullbacks after the price successfully breaks through and the market sentiment is high.