Today, a fellow cryptocurrency enthusiast asked if Bitcoin has reversed at this point.

Here's a unified answer: No, it hasn't.

Currently, it cannot be considered a reversal. With market expectations decreasing regarding the number of interest rate cuts by the Federal Reserve, even the expectation of a rate cut in June is starting to wane. Market liquidity has not improved; on the contrary, it may tighten further. Especially since the U.S. is increasing its bond sales, this places significant pressure on the overall financial market's liquidity.

Although Bitcoin's rise has some correlation with the U.S. stock market, the overall liquidity in the cryptocurrency market and altcoins remains very weak. In this situation, it is difficult for Bitcoin to form a truly meaningful reversal trend. Investors need to closely monitor macroeconomic dynamics and market capital flows and make cautious judgments about market trends.