Now the newcomers in the market, while the players in the market have basically gone through a complete cycle of bull and bear cleansing, are generally very calm.
Another point is that Bitcoin has been highly controlled by Wall Street, and the Asian and European markets are basically stagnant in the first half, with volatility really depending on the Nasdaq CFD. The only decent trend usually occurs after the US stock market opens.
Currently, the situation in the B circle is somewhat like a struggle for pricing power, mainly revolving around exchanges and Wall Street. Even Zhao Changpeng being taken down can be considered a part of this.
Bitcoin is a currency, so Wall Street, led by ibit, is buying crazily. Ethereum operates on a staking model, holding onto it for interest, which leads to aggressive selling. The participation of retail investors in this process is extremely low.
When retail investor sentiment no longer causes significant fluctuations in Bitcoin and Ethereum prices, they naturally feel that the crypto market is quiet and desolate.
However, from the perspective of institutional investors, it is quite thrilling. The price seems to be unchanged, but the inventory of Bitcoin on exchanges is almost being drained.
The last bull market was highly correlated with the US stock market.
The next bull market is likely to be highly bound to the US stock market.
