It was previously mentioned that this period would mainly consist of a consolidation and recovery market. With the strong rebound early this morning, does the market seem more optimistic? $BTC

From the actions of Bitcoin whales, since April, the number of addresses holding more than 1,000 Bitcoins has surged, increasing by over 60 in just over a month. This data is similar to the levels seen in November and December of last year when whale addresses also increased, during which Bitcoin experienced significant price rises.

Currently, other data shows that the number of addresses holding more than 100 Bitcoins has slightly increased, now exceeding 18,000; while the number of small retail investors holding less than 10 Bitcoins continues to decline;

The most noteworthy point is that the super whales holding over 10,000 BTC have been continuously buying, basically buying on small dips and buying heavily on big dips! It can be said that without these whales buying, Bitcoin would have likely broken new lows already.

From this data, it can be seen that Bitcoin's current price has indeed received strong support, and the main forces remain optimistic about the future. The selling by retail investors also indicates the effectiveness of the market washout.

However, can we say that the market is about to reverse and surge? I think it is too early to say! The fundamental assessment from last week still holds: the main market remains one of consolidation and recovery, with the upper limit of the rebound likely around $92,000 (plus or minus 3%).

Before mid-June, the market will likely continue to experience ups and downs, testing people's patience, and there may even be another dip before a true reversal upwards, forcing retail investors to give up more chips.

So, it’s important to maintain an optimistic outlook for the long-term market: the basic logic of the fourth halving market is still in play;

Operate with a patient and cautious attitude in the current short-term market: control leverage or use it sparingly, set good take-profit and stop-loss levels, and surviving until the end is the most important.