Saw everyone shouting 'bull run' on Twitter, Bitcoin is hovering around 73. My conclusion: It's still too early for a bull run, we're still in the bottom range consolidation phase. Since the U.S. stock market opened, the three major indices have all been dropping. Oil prices are still climbing, and rate hike expectations are holding steady at around 36%. As a liquidity-sensitive asset, how could Bitcoin possibly reverse into a bull run under these conditions? Unless the macro environment improves—at least with rate hike expectations dropping below 10% and the U.S. stock market looking strong. For Bitcoin to truly enter a bull run, it needs to quickly break through the 76-82 range and hold steady above it. Only then can we say the reversal is here. For now, we're still in the bottom consolidation range of 60-82 since the big drop in February. Be cautious of short-term holders taking profits—after all, it's already up about 15% from 63. Also, watch out for macro news. If rate hike expectations rise again, what went up could come crashing back down just as fast. DYOR