Jokes aside

I think this pullback should not be bearish.
Instead, it's to wash out before the next big wave starts.
The reasons are as follows:
1. The previous wave of rises, including the spillover effect of copycats, was very weak, and did not really attract over-the-counter funds, and the proportion of people who can really participate in the chain is very small. And this second-level or post-listing weakness is a verification that we are not actually ushering in a real bull market, but a mutual P on the market
2. In the broader environment, the Federal Reserve's delay in interest rate cuts and quantitative easing has postponed the bull market that should have appeared. The current rise in Bitcoin benefits from the approval of ETFs and the favorable conditions of joining the Federal Reserve. Altcoins actually also have ETFs that will start to come through; it's just that the real bull market hasn't arrived yet.
3. The weakness of VC coins lies in the fact that many projects are just here to sell coins, and since we are still in the market, people are not foolish; no one will take over these "narrative" coins, resulting in extremely poor performance of VC coins. There is also an issue with VCs; they should adopt a long-term approach to invest in people who are innovating in the crypto space, rather than investing in those who don’t even know about Bitcoin and claim to be from prestigious universities.

This wave of washing is good, let people with long-term beliefs stay, and let the bad money get out, so that we can usher in a real big bull market.
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