November 12th, Second Half of the Bear Market 1. US stocks have entered a bear market, and the mid-term rebound of BTC has ended, marking the start of the second half of the bear market. This second half will be even more severe than the drop from 120,000 to 60,000 in the first half. This 60,000 drop in BTC is equivalent to 30,000 in 2022 and 6,000 in 2018. 2. BTC still has a chance to return to the 78,000-79,000 range for a final bull trap. 3. News-wise, tomorrow's PPI and next week's Nvidia earnings report will provide further opportunities for a rebound, but these rebounds are merely chances to escape.