Current Market Rhythm Analysis: Initial Rebound, Main Line Still to be Confirmed
Although many tokens have already formed obvious reversal patterns in the bottom region, the confirmation of the overall market trend still requires observation of the sustained performance of mainstream currencies (especially BTC). At this stage, bulls are still facing three major challenges and evolutionary logic:
1. The pressure of unlocking after chip accumulation still exists
The previous prolonged decline has led to a large number of chips being deeply trapped. Even if the market rebounds, it still needs to go through a certain phase of profit-taking and unlocking, which will form some suppression on the upward momentum in the short term, and the recovery of market sentiment still requires time.
2. Liquidity Determines Market Level
A true unilateral rise is often led by institutional funds, whose entry rhythm is usually accompanied by rapid surges and very few pullbacks, not allowing many opportunities for low-position layout. However, there may still be operational windows for 'pullback confirmation' during the fluctuations.
3. Macroeconomic Variables Have Not Triggered Trend-Level Market
The current market's expectations for a Federal Reserve interest rate cut are concentrated in the third quarter (around September), which is still far away. In the short term, this rise is more likely to be a phase technical rebound driven by macro expectations, rather than the starting point of a new bull market.
