#数字资产生态回暖 Currently, this position, to put it simply, is in the mid-cycle correction of a bull market, with only the right-side recovery just beginning.

In the short term, there's still a chance that BTC could be knocked down a few more times, especially on the BTC side. However, looking closely at the weekly and daily chart structures, it already feels very different from the complete collapse atmosphere of late November. Compared to ETH, which is showing relative resilience, this indicates that people still have expectations for ETH’s future story—whether it’s spot ETFs or ecosystem development—without giving up completely.

What truly determines whether we will see a direct surge or remain sideways for several weeks isn't just how these 4-hour or 8-hour candlesticks move, but rather a few key indicators over the next 1 to 3 weeks: whether the weekly MACD can gradually recover, signs of volume returning, and whether macroeconomic factors and ETF capital inflows are willing to cooperate. These are the real factors that will decide the direction.