The current market is in the "monkey market" stage of transition from a small bull market to a big bull market, which is an indispensable part of the four-year cycle of the currency circle, following the six-month small bull market. This stage aims to clean up floating chips through market fluctuations and pave the way for the upcoming big bull market.
A complete cycle of the currency circle covers five stages: bear market, consolidation, small bull market, monkey market and big bull market. Among them, the monkey market, as a prelude to the big bull market, usually lasts about half a year, starting from July 2024, and its length will be flexibly adjusted according to the thoroughness of market cleaning.
This round of small bull market started at the end of 2023 and ended in mid-2024. During this period, the surge in Bitcoin was particularly eye-catching. Its rapid rise exceeded market expectations, mainly due to the influx of spot ETF funds. Compared with the previous bull market, this round of small bull market showed strong momentum in the warm-up stage, and even touched and surpassed the previous highs.
Since May 2024, Bitcoin has entered a high-level oscillation period. The market generally expects that the bull market will bring high returns, but the reality is often the opposite. The market balances supply and demand through callbacks to ensure that the dealer's delivery strategy can be implemented. In June, Bitcoin volatility intensified, and altcoins experienced a wave of shipments, highlighting the cruelty of market cleansing.
The price of Bitcoin has fallen below the $60,000 mark, and some altcoins have even hit a new low since the bear market. We are at the bottom of the initial decline in the monkey market, and it is expected that we will experience multiple rebounds and declines in the future until the market bottom is stable. Although the market may continue to be under pressure in the short term, many potential currencies have shown good investment value, providing a rare opportunity for long-term layout. Investors should remain patient, pay close attention to market dynamics, and seize the opportunity to buy at a low price.
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