Recently, Bitcoin's price movement has indeed sparked quite a bit of discussion. After months of stagnation, this strong rebound has caused many to reevaluate the market. Analysts on Wall Street point out that from October last year to February this year, the crypto market experienced a 44% sharp pullback, but now it seems this downward trend has come to an end.

I’ve noticed that there are indeed many factors supporting this rebound. First, positive news from policy developments, with the US regulatory stance clearly shifting towards friendliness, significantly increasing the likelihood of related bills passing. Second, the progress of integration between traditional finance and the crypto industry is accelerating; a bank subsidiary of a major crypto platform recently successfully obtained a "main account" status from the Federal Reserve, which is a historic breakthrough for the entire industry. Additionally, institutional investors continue to enter the market, all of which are important forces supporting the rally.

However, this rally has also sparked intense debate about "shell cows." Optimists believe that the crypto industry is at a turning point, and this upward momentum has strong sustainability. But pessimists warn that this could just be a "shell cow" trap, with a temporary breakout that could reverse at any time. They point out that heavy short-term selling pressure and the structure of derivatives market positions are potential risks.

Honestly, it’s not easy to determine whether this is a genuine bull market or a "shell cow" rebound right now. Market sentiment has indeed warmed up, and fundamentals are improving, but whether it can truly break through key resistance levels depends on whether policy benefits can be implemented and the real strength of capital inflows.

Looking at the data, Bitcoin is currently oscillating around $81K, with a 7-day increase of about 2%. In the short term, it’s still testing the upper resistance. If this "shell cow" can develop into a real bull market, related assets might present new opportunities. Recently, I’ve also been watching the performance of some mainstream crypto assets on Gate.io; if you're interested, you can check out the market yourself. The next key factor will be whether policy can truly be implemented and the strength of institutional capital.