Let's talk about it briefly.
In terms of the market cycle, if the adjustment of Bitcoin after halving lasts for half a month, it will set a historical record of 300 days of adjustment after halving without opening a new bull market.
A new record created this year is that the price reached a new high before halving, all thanks to the launch of Bitcoin ETF.
There is no conclusion yet on the impact of ETF on the crypto market.
Personally, I think it may be bearish in the long run.
The essence of Web3 lies in decentralization. Although the intervention of centralized entities is not necessarily a bad thing, its excessive control will directly oppose the underlying logic of decentralization.
We are experiencing an unprecedented bull market process, and it is impossible to predict when the end or highlight of this bull market will come. The bull market logic of the past 12 years has obviously been broken, and many people have truly felt the "hell-level" market experience.
Looking to the future, this circle is still full of hope.
Just like the A-share market, the moment when the wind comes is always unexpected. You can follow the official account: Crypto Recorder No Threshold Keeping expectations is very important.