Bitcoin continues to maintain a narrow range of fluctuations. Last night it pulled back to around 96,000, which is less than 4 points down from the highest point. So far, it still aligns with what Lao Yu said: "Bitcoin will first experience narrow fluctuations before wide fluctuations."

Before pulling back to 90,000, there won't be an attempt to break the 100,000 mark. The performance of Bitcoin has been consistent with Lao Yu's script, and it has been repeatedly mentioned in the community, almost a clear indicator.

Once Bitcoin completes its fluctuations and begins to truly break through 100,000, that will also be the acceleration phase of this bull market. It's the most FOMO phase, when outside speculators rush in. The reason I have consistently said that Bitcoin won't break 100,000 at this time is because 100,000 needs to be reserved to attract new speculators.

Ethereum and altcoins haven't been idle either; during this period of Bitcoin's fluctuations, they will continue to raise their own levels. The rotation of altcoins and the narrative surrounding them are becoming increasingly clear.

After the MEME sector ends, the focus will shift to established coins and major blockchains, followed by the metaverse and certain DeFi projects, with scenarios of tripling in value in ten days being common. This wave of old coins' rotation has not yet ended; the old veterans who have endured for years need to cash out.

Old coins are just the appetizer for this altcoin season; the real protagonists of the altcoin season are quietly raising their levels. Each round of bull market madness in altcoins occurs during the acceleration phase of Bitcoin.

Every time the market pulls back, what you see is fear, but what I see is opportunity. While you are studying what to buy every day, I am studying how to maximize capital efficiency. First, learn the first step: overcome fear.