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The grayscale signal is here: Could this rally be the start of the first phase of a bull market?
When Grayscale Investments releases positive signals, the market tends to take them seriously.
The logic for institutions is simple: they don't chase short-term fluctuations but judge the cycle. If they start turning optimistic, it indicates that the medium-term structure is improving.
The current rise in BTC, if it can continue and hold steady above key levels, may mean entering the "first phase of a bull market"—a process from skepticism to recognition.
The characteristic of this phase is: rising alongside doubts, not unanimous optimism.
—Summary: A real bull market never starts when everyone believes in it. #Gate13周年现场直击