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Launch
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In the past two weeks, $BTC has gone from panic selling to oversold rebound, leading many to start discussing the return of the bull market.
But if you zoom out a bit, you'll find that the things that truly change the trend have hardly moved.
ETF funds have not continued to flow back, incremental capital has not re-entered the market, the profit-making effect of altcoins has not recovered, and the market has simply gone from being extremely pessimistic to being not so pessimistic.