《Has BTC Hit Bottom?》 Silly Bro's core principle is to ignore retail indicators and focus on institutional indicators. Metrics like MVRV, UTXO, contract holdings, etc., mainly reveal retail movements, but in Silly Bro's technical system, their importance has been decreasing. Now let's look at indicators related to institutional behavior: 1. From the issuance volume of U, it’s still at the bottom; 2. From the ETF AUM perspective, it’s grinding at the bottom, with a possibility of reversal. 3. What about corporate buying? MSTR? Still selling coins: The latest 8-K from August shows that between August 3rd and August 9th, they sold another 1,690 BTC, with no purchases. Considering the impact of AI on computing power and narrative, Considering the traditional halving cycle and the current timing, Considering the overly crowded shorts getting squeezed for a sharp rally, which is noticeably different from previous silent reversals, Silly Bro still believes there’s no reversal at this point. Leaning towards the idea that the bull market hasn’t arrived yet. In fact, this sharp rally at this level might increase the probability of a bloody script later on. Of course, Silly Bro isn’t a god and can’t predict the market. Take it step by step, and if wrong, just correct it as quickly as possible.