Looking back at this wave of market cleansing:

Drivers of the first half of the market: Bitcoin ETF, halving and industry narrative (inscription), these three factors have created a market where Bitcoin can suck blood independently. No matter what the market is, a few days before and after the good news lands, there will be a callback market, and the magnitude of the callback depends on the previous increase.

Predict the next wave of market (according to the staged rhythm)

Drivers of the second half of the market: Ethereum ETF (definitely passed), SOL ETF (with a certain probability of passing) interest rate cuts and industry narratives (Ethereum, SOL ecological narratives)

At present, the above major benefits have not been fulfilled, and the expectations are all there. After the good news on the capital side is fulfilled, the funds will gradually enter the market. After entering the market for a period of time, the good news of the industry narrative will land again, and the stage market will end the hype.

I think the position above 52,000 should be the bottom of this round of callback. If it falls below 52 to 42, new major bad news is needed. I can't see it at present. The power of the bears is gradually weakening. As the saying goes, one effort will be strong, the second will be weak, and the third will be exhausted.

There will not be a big drop in the short term, and the longer the fluctuations here last, the solider the bottom will be.