The initial appearance of BTC bull has already appeared. Based on past cyclical experience, the characteristic of the early stage of a bull market is that prices rise but individual investors do not believe that the market will improve. Of course, most traders do not uniformly go long, as market sentiment usually remains stuck in the previous round of decline. This is also where the bull market is cunning. Market prices always begin to repair before people's memories. When people start to adapt to the rise and become excited, the market has already left the early stages of the bull market and entered the frenzy zone. BTC has been continuously repairing its cost zone over the past month, absorbing massive sell orders and squeezing short positions. Institutions are also rebuilding their risk appetite, resulting in a large influx of ETFs in the first few days of May. The US Spot BTC ETF -Net inflow of 629.8 million US dollars on May 1st -Net inflow of $532.3 million on May 4th -Net inflow of $467.3 million on May 5th -On May 6th, there was still a net inflow of $46.2 million In fact, there is not much difference between BTC and trading coins like RAVE. In the early days, they relied on bears as fuel to climb up bit by bit. After BTC rose, the funding rate remained generally negative, During the upward trend, there are still a large number of short selling or hedging positions in the market, and when retail investors unanimously buy and push up, they have already entered the bull phase of breaking new highs. At least for now, I believe we can gradually build positions, and the probability of continuing to decline below 60000 is not high.