It is believed that the potential outcome of an interest rate cut may not be a continued bull market, but rather a phase of temporary, even technical, sustained pullbacks.

However, objectively speaking, there are two key pieces of data that still do not support this assertion (perhaps they will in the future):

1. The continuous issuance of stablecoins has not yet long-term stagnated;

2. The substantial liquidity currently accumulated in BTC has not yet flowed out.

So objectively, even if the bull market has reached its end, there will still be at least 1-3 months of high-level distribution, and I believe this range will be above 100,000.

Since the bull market of 2017, periodic reversals have occurred in situations where the market is extremely optimistic but buying power is lacking. In my view, the current market sentiment is characterized only by pessimism and anxiety over profit pullbacks.

However, the lack of buying power and weak demand is indeed very apparent, so it is still necessary to pay attention to this...