If you ask me whether the cryptocurrency market is currently in a bull market, I will tell you clearly that it is not a bull market now.

1. In recent months, the trading volume of the cryptocurrency market has continued to be sluggish, and market sentiment has also reached a low point in repeated fluctuations.

2. Any price increase seems accidental and lacks sustainability, which is obviously not in line with the characteristics of a bull market.

3. The overall financial market environment is not optimistic. In addition to the fact that the "Big Seven" of the US stock market has stopped its blood-sucking crazy rise, Japan's interest rate hike policy has also made it impossible for the yen carry trade to continue.

Don't forget that Black Monday on August 5 just happened not long ago. Once there are more problems with yen arbitrage, the market may encounter a black trading day again. Overall, the current crypto market is tentatively recovering with the expectation that the Federal Reserve may cut interest rates in September. However, it is still difficult to predict how long this recovery will last. If the situation is good, it may start the next stage of the bull market; if the situation is not good, it may only be a short-term rebound, followed by continued consolidation. I believe that the bull market will eventually come, but it is likely not now.