Bitcoin Ecosystem Rebound:

Expected Repair as the Main Focus, Sustainability in Doubt The current Bitcoin ecosystem rebound is more of an emotional repair under low valuations and weak expectations, rather than a trend reversal, facing multiple structural constraints in the medium term;

Development Progress Lagging BRC-20, Runes and other projects are progressing slowly, failing to form a complete system, with a lack of infrastructure leading to insufficient ecological synergy.

Core Projects GitHub Update Frequency Declining, Developer Activity Significantly Lower than Ethereum, Solana and other chains, the cooling of the technical community weakens long-term expectations.

Funds are refocusing on deeply undervalued assets at style switching nodes, releasing phase elasticity, but lacking fundamental support.

Conclusion: The rebound can be driven by emotions, but the continuation of the trend relies on substantial product implementation, user growth data, and community confidence rebuilding.

If there are no solid developments in the future, short-term elasticity is unlikely to convert into a medium to long-term independent market.