The current market is facing selling pressure from five aspects, namely, Mentougou compensation, German government selling, US government selling, continued outflow of Bitcoin spot ETF and Bitcoin miners reducing their holdings.

Generally speaking, the fundamentals of the current bull market have not changed. Once these five selling pressures disappear, the market will return to the bull market!

I personally think that it is not necessary to completely digest these selling pressures. As long as the selling pressure starts, the market will slowly digest this part of the selling. Although the current trend is not good, combined with the interest rate cut by the United States this year, it is expected that the market will enter the bull market climax in the late second half of the year!