10.1 A signal leak still points to a bear market 1. Many people are fixated on BTC breaking $83,000 and confidently believe the bull market has arrived, but they ignore that COINBASE and MSTR still haven’t surpassed their May highs. 2. Similar to October 2025, when BTC hit the bull market peak of $120,000, COINBASE and MSTR also refused to hit new highs, followed by the arrival of a bear market. 3. BTC reflects retail market sentiment, while U.S. stocks represent the intentions of stronger risk appetite from major funds.