Recently, many people have said that the bull market is over, but according to my analysis of the current market, the bull market has not completely ended. We can analyze it in depth from several aspects:
1. Historical comparison
In the past few rounds of bull markets, BTC often experienced a rapid decline of more than 40% after the market peaked, causing huge losses to many investors. However, this time, although the price of Bitcoin has adjusted for 2 months, it has fallen from $109,000 to $97,000, with a drop of only about 12%, which is much lower than the plunge in the past bull market. This shows that the market's downward range is small and still remains at a relatively high level, and the bull market has not completely ended.
2. Wyckoff Theory Analysis
According to Wyckoff theory, the market typically goes through four stages: accumulation, rising, distribution, and declining. The current sideways consolidation resembles the market in the 'distribution' phase, but unlike the intense distribution periods of the past, we have not seen aggressive selling or panic. This mild adjustment may be building energy for the next rally, so the bull market still has the potential to continue.
3. Market Sentiment:
From a sentiment perspective, the current market shows a strong wait-and-see attitude, with investors not exhibiting overly optimistic blind chasing of prices, but rather waiting for clearer direction. There is no strong selling pressure or panic selling, indicating that there is still stable demand in the market and preparing for future increases.
4. Support from Institutional Funds:
Large institutions remain active in the cryptocurrency market, especially in mainstream assets like Bitcoin and Ethereum. There has not been a massive outflow of funds; rather, the continuous positioning by institutions gives the market more confidence. The support for the bull market remains strong, and the potential for future increases should not be underestimated.
5. Technical Analysis:
Bitcoin's price is fluctuating around $97,000. Although there has been a slight pullback, there is no obvious trend of a sharp decline. This stable adjustment instead provides a healthier consolidation space for the market, preparing for the subsequent rise.
The current market adjustment is just a normal phase in a bull market and does not mean that the bull market has ended. On the contrary, the market is still building strength for the next rally, and the bull market is expected to continue. Stay calm and patiently wait for the market's further direction; opportunities still exist!$BTC $ETH
