The current market views are mainly divided into two factions:

Bearish view: The BTC weekly structure, especially referring to the weekly divergence pattern at the peak in 2021, suggests that the current position may be close to a historic high, and it is highly likely that we will enter a bear market next.

Bullish view: The macro environment is improving, and the Federal Reserve is very likely to cut interest rates in September, which will bring liquidity to the market. It is expected that a comprehensive rise will occur in August-September, with funds and sentiment continuing to heat up, making a wild bull market unimaginable.

In my personal judgment, this round of the bull market has not yet ended, especially since ETH has not yet broken through its historical high. However, it is also impossible to say that there will be no pullback next. A phase of pullback is very likely to occur between the end of August and September, cooling market sentiment and aiming to achieve a washout.

What do you think? Share your views in the comments below 👇👇👇