The water temperature is finally about to gradually rise. The moment the pancake rebounds again will be the day when the counterfeit fully erupts.

The chart below shows the latest comparison between Bitcoin prices and global liquidity. Currently, it is still in a severe lagging state. Such a prolonged lag has led me to a conjecture:

The current Bitcoin price in this bull market may really be nearing its peak. The current global liquidity will correspond not to the Bitcoin price, but to the total market value of cryptocurrencies. This means that while the Bitcoin price will continue to rise in the coming period, its market share will consistently decrease, while the total market value of cryptocurrencies keeps increasing. I mentioned this phenomenon a long time ago; once it occurs, it is the moment of a mad bull.

After waiting nearly a year, can it happen?