The biggest factor affecting this round of bull market is not halving, but ETF. ETF has gradually dominated the development of BTC price. Many people regard this as the top. I think this is a wrong judgment. The real impact of global ETF on BTC and the cryptocurrency industry has just begun.

In the past 2-3 months, ETF funds have continued to flow into the 60,000-70,000 US dollars. Is the ETF passed just to take over in large quantities at this position? And there will be no selling in the short term, which is obviously unreasonable. Is the US SEC and these global giant institutions stupid or is the market stupid?

This is an inevitable trend in the long-term ETF bull market. It is only a matter of time before it breaks through, and I think it will come soon.