I think the bull market is not over yet, mainly for several reasons:
1. The Federal Reserve is still in the process of lowering interest rates; the market originally thought there would only be one rate cut in 2025, but now it seems there may be four cuts, leading to more liquidity in the market.
2. The focus of U.S. policy is gradually shifting from fiscal stimulus, such as 'sending money', to monetary stimulus, such as 'increasing money supply', which will increase funds again.
3. The infrastructure of the cryptocurrency industry is becoming increasingly完善, and the connection with traditional finance is being established, lowering barriers and offering more ways to engage.
4. Trump's tariffs could provide an opportunity for cryptocurrencies to become a new way of conducting cross-border transactions and bypassing restrictions.
From a technical perspective, using Fibonacci for calculation, Bitcoin may surge to $150,000, and Ethereum could rise to around $8,000. Buying BTC or ETH at this position may be the most certain step in this market cycle.