Last year, the main long positions were established from April to September, with Bitcoin rising from 60,000 to 110,000 USD.

This year, the main long positions were established from January to March, and the current positions have already matched last year's positions. I personally believe that once the next market starts to surge, the 110,000 USD level will not hold. Therefore, this bull market is a multi-segment complex structure that will diminish the bull-bear cycle, or in other words, the endpoint target of this bull market is much further than imagined, leading many to believe that the bull market has ended. In reality, it's just that the structure is too large; any significant adjustment can last a long time and result in a substantial drop. $BTC