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I still agree with Hua Yili's view on this bear market!
Everyone is discussing the rebound point, but this can only be seen step by step.
Compared to the new highs of the US stock market's S&P 500 and the strong buying of MicroStrategy, the current rebound in the crypto market appears relatively weak, clearly showing characteristics of a bear market rebound.
Black Panther looked at BTC's rebound and noted it is not due to improved fundamentals.
Open interest has been rebuilt, but the funding rate remains negative, indicating new short positions are entering rather than longs surrendering.
Recently, some altcoins with extremely high funding rates are mainly due to very unbalanced longs and shorts, with some institutions involved in manipulation.