BTC's pullback is mainly due to short-selling profit-taking, and the selling pressure from governments is limited. This round of bull market came too early. The bull market should have started from the end of 2024 to the middle of 2025, but the passage of ETF accelerated the rise of BTC. In March 2024, BTC broke through the previous high of $69,000 in 2021 and entered the bull market. The reasons for the early bull market are the two-headed bull in 2021 and the passage of BTC spot ETF, and a large amount of funds poured in to accelerate the rise.

The market misjudged the timing of bottom-picking, and the bull market greatly raised the cost of adding positions, which is easy to lose money. Since March, most newcomers have lost money when entering the market. It is recommended that novices follow me first, V--Exchange--Flow+: wbe3_BTC to learn about the currency circle and lay a good foundation. The view that the bull market will start early and end early is absurd. The interest rate cut will not send away the bull market, but will boost the violent bull market. Jiaolian predicts that the real start of the bull market will not be until January 2025. The bull market launch in March was just a false move, and it will take time to clean up the market before the bull market can officially begin.