My view has not changed. Once a strong price trend is established, it rarely reverses easily. More importantly, the current uptrend is clearly supported by strong buying liquidity and sustained buying pressure. For that reason, we should not assume that the rally is over simply because technical indicators have entered “overbought” territory. Overbought conditions need to be interpreted differently depending on the strength of the prevailing trend and the underlying liquidity environment. For the current trend to reach a short-term peak, I think the market may first need to reach a point where bullish investors become even more convinced, while those positioned against the trend are pushed into even greater pressure and despair. Markets often push investor psychology to such extremes. This tendency has become even more pronounced since the approval of spot Bitcoin ETF. My view has not changed. From a broader cycle perspective, I do not expect the current bullish move to continue straight up without any meaningful pause or consolidation. I still think there has not been enough time for accumulation, nor have we seen sufficiently clear signs of accumulation yet. However, I also do not expect the current short-term uptrend to reverse easily.(mignolet)