Speaking of the core driving force behind this bull market, it comes from the continuous buying of spot ETFs. The strong performance of ETH in the past two months is precisely due to the market's strong expectations for the Ethereum ETF.
However, the winds are changing—Bitcoin and Ethereum ETFs have seen consecutive days of net outflows, indicating that institutional funds are beginning to hesitate, and short-term adjustment pressure is building up.
Whenever the market enters a consolidation phase, there are always those who promote "this time is different."
In 2021, those who shouted "eternal bull market" were harshly educated by the market in 2022.
Now, the same story has taken on a new guise; the so-called "slow bull theory" is merely old wine in new bottles.
The essence of the market has never changed:
Where there is a bull market, there must be a bear market; this is an unchanging cyclical law.
At this stage, the bull market has not yet ended, and the pullback still presents a layout opportunity.
However, it must be clearly recognized that transitioning to a bear market next year is highly probable.
The difference is that, supported by long-term ETF funds, the bottom of the next bear market may rise to around $70,000.
Use ETF fund flow to judge short-term direction, and use cyclical thinking to grasp long-term trends. The market always moves forward amidst fluctuations; only by maintaining rationality can one navigate through the bulls and bears.
Strong recovery, assets doubling! Follow the afterglow, layout in advance, and easily reap significant returns
