In the history of crypto bear markets, apart from a few cases like the unilateral crashes in 2018 and 2022, most have shown a complex ABC—X—ABC correction structure. The fifth wave of this bull market, as the final major upward move, has already reached its minimum target. The real bear market is just around the corner, but it still needs key signals for further confirmation. There might be another surge after the May Day holiday as the final piece of evidence.