Big drop on Monday, and people are already saying the bull market is over? Stop dragging it out @SentientAGI below @SentientAGI Let me write it out. Low liquidity on a big Monday, this kind of volatile drop—I mentioned last week that apart from fully accepting Powell’s statement about no rate cuts in December (of course, it’s just expectations, still room for speculation), there’s also the U.S. government shutdown. The longer this shutdown lasts, the worse it is for risk markets, especially the 24/7 crypto market. It’s already been 33 days, almost the longest in history (35 days). If this record gets broken, the market will definitely panic. That’s why I’ve been saying I hope the shutdown ends soon. Let’s see if there’s any news this week. Back to the beginning—this drop, and people are saying the bull market is over?? Actually, BTC is still fluctuating above 105, just dropped below 11. ETH and SOL have both reached the support zones I mentioned earlier (ETH’s range is $3,600-$3,800, SOL’s is $162-$179). For those saying the bull market is over, I’m really curious about your reasoning. Are you simply assuming the four-year halving cycle means we’re at the end of 2017 or 2021 again? You can’t just oversimplify things like that anymore. The key point is that the easing trend is already solidly here. Even if the government shutdown ends soon, and even if there’s no rate cut in December, you still can’t say the bull market is over. Because the easing trend is just a matter of time. It’s not like it’ll suddenly reverse into a tightening trend, right? Plus, Powell also mentioned considering ending quantitative tightening. Ending QT doesn’t mean immediate QE, but it’s still positive for risk markets. It boosts investment appetite for capital. Right now, the biggest focus is on when the U.S. government shutdown ends. Then we can get macro data (like labor data, CPI) released on time, and the path for rate cuts will gradually become clearer. Do you guys still remember this chart? It might feel like old news, but it’s still relevant!