In May, Bitcoin continued to refresh its historical high, reaching an unprecedented level.

However, market sentiment was surprisingly rational—trading volume did not significantly increase, and funding rates remained stable.

This round of increase seemed more like a silent capital game rather than a nationwide celebration.

In the absence of widespread participation from retail investors, the sustainability of this rally remains to be seen.

If Bitcoin wants to continue its upward trend, it may need more "fresh blood" to flow into the market, bringing in increased capital and trading activity.

At the current stage, choosing to take profits at the right time may be a more prudent response.

After all, the market is never wrong, but sentiment can be deceptive.