The overall trend of the market is still a bull market.

After the market picked up a bit these past few days, the voices shouting bear market suddenly disappeared. After Bitcoin reached a high, some said a bear market had arrived due to a normal pullback.

Many others echoed this sentiment; I really don't know how they concluded a bear market was coming.

If we say there is no money in the market, or if Kamala Harris is elected, or if institutions keep facing sudden crashes, then it could indeed be a bear market.

Currently, many people judge a bear market solely based on hearsay.

Please remain rational and keep a long-term perspective; don’t be influenced by the noise around you, or you might miss this bull market.

At present, the demand for Bitcoin in the market exceeds supply. Data shows that Bitcoin's market demand has reached 228,000, while supply keeps decreasing, including the sell-off by Grayscale, the sell-off in Mentougou, and the inventory at exchanges, etc.

Under such objective circumstances, Bitcoin will only increase in price; the more it rises, the more people will choose to buy Bitcoin, which in turn drives the price higher, forming a rising cycle.

The current pullback offers the market a chance to rest and also provides a good opportunity for institutions and retail investors to enter.

However, the chips are still heavily concentrated among the major players, with retail investors either choosing to sell or hesitating to enter the market.

How many are still waiting for Ethereum below 3000, or Bitcoin at 80000 or even lower? It’s not that it definitely won’t fall to that price; it’s just that the probability is too low.

I remember during the hardest times in May and June a few years ago, when I was recharging everyone’s faith, many left messages saying they would wait for Bitcoin to drop to 30,000 before entering the market.

I wonder how those people are doing now; do they have even a trace of regret?

It’s the same now; although Bitcoin has risen a lot, the market's fair value has already increased to above 90,000, making it hard to drop back down.

Merry Christmas！！！！

Let’s welcome a raging bull together in 2025.