🐻 Is the bear market in the crypto world really coming? In-depth analysis of current market signals Recently, the market has been in continuous decline, with BTC dropping below 106,000 USD and ETH falling below 3,600 USD, triggering panic over "the bear market is here." So, is this really the beginning of a bear market? We will analyze from four perspectives: macro, funding, technical structure, and market sentiment. 🏛️ 1. Macroeconomic: The vacuum period after interest rate cut expectations are realized The Federal Reserve has continuously released signals for interest rate cuts, and the market has reacted in advance. "Good news has run out" has become the main reason for short-term adjustments. From historical experience, at the beginning of each interest rate cut cycle, risk assets often experience a round of adjustments and turnover. This is not the start of a bear market, but rather a period of pain before liquidity shifts. 💵 2. Funding: Institutions have not withdrawn ETF funds still maintain a mild net inflow, and the total market value of stablecoins continues to rise, indicating that mainstream funds are still in the market, though risk appetite has decreased. If US Treasury yields continue to decline in the future, the speed of fund inflows may accelerate. 📈 3. Technical: Structure remains intact BTC is still above the long-term trend line (about 102,000), while ETH has pulled back but is still holding in a key support zone. The short term may continue to fluctuate, but as long as it does not break below the main structural bottom, it is still a healthy pullback in the mid-stage of a bull market. 😰 4. Sentiment: Panic is indeed a bottom signal The fear and greed index has dropped significantly, and the discussion of "bear market" has exploded on social platforms. This is often a classic signal of a temporary bottom. The market needs a "sentiment reshuffle" to clean up leverage and eliminate bubbles. 🧭 Conclusion and Advice Currently, it feels more like a halftime break in a bull market rather than a real bear market. If BTC can hold steady at 102,000 and ETH stabilizes at 3,500, there is still a chance for a rebound wave before the end of the year. Medium-term investors can gradually buy quality assets at lower prices, while short-term investors should be cautious about chasing highs. 📌 Disclaimer: This article is for market analysis reference only and does not constitute investment advice. The crypto market is highly volatile, please make rational decisions and manage your positions.