Spring is really coming!

I’ve truly experienced a lot from the crypto market action these days.

Before this, the market had been dead silent—grinding out a bottom drove my mindset to the brink. It didn’t drop deeply, but it also couldn’t rally. Every day was torture. But these past two days, the chart finally came fully alive—profit-taking momentum is clearly visible, and the bulls can finally hold their heads high.

Bitcoin is currently holding at #加密行情回暖，比特币走高 $66,800, reaching a new high since mid-June. In just a few days, it has surged more than 4,000 points straight from the lows. ETH, XRP, and SOL have all bounced back as well. Honestly, this rebound came at exactly the right time, and it completely wiped out the earlier pessimism.

When I reviewed this move myself, I don’t think this rise is coincidental. The most core reason is that the U.S. crypto CLARITY bill has started to see a breakthrough in expectations.

In simple terms, the market is beginning to price in a compliant rollout ahead of schedule. Once the biggest policy risk for institutions entering the market is resolved, it will be a long-term positive for crypto—far more reliable than short-term capital speculation.

On top of that, recently global tech and chips—like Hynix, SanDisk, Micron, NVIDIA, and others—have been seeing a rebound in sentiment. Overall risk appetite has been recovering, and that also brings timing to the crypto market.

The most critical part is: the money is really back.
U.S. stock Bitcoin ETFs have seen net inflows for five straight days, with the highest single-day figure reaching $227 million. The downtrend of continuous outflows has finally been reversed. Also, a whale holding 1,000 Bitcoin is疯狂吸筹 at the bottom—accumulating coins at low levels for three straight weeks. It shows that big money recognizes the value at this level.

On-chain valuations are also at historical lows. The current value-for-money—viewed across the whole year—is in a solid range.

But my personal view right now is: the market is warming up, and that’s true—but it’s absolutely not a brainless bull run.

The market is especially divided right now: some whales are adding at the lows, while other long-term whale holders are cashing out their positions at higher levels. To put it simply, this is new capital taking over old positions—not a fully unified bull market sentiment across the board.

Two major core variables for the future need to be watched continuously.
First, whether the 《CLARITY bill》 can be advanced before the August 7 adjournment.
Second, whether the U.S.-Iran geopolitical situation continues to deteriorate. In the short term, Trump may decide whether to expand military strikes against Iran. If the conflict escalates, higher oil prices would again lift inflation expectations and tighten liquidity, directly impacting high-risk assets like crypto. ​​$BTC $ETH