Yes, if we simply look at the price, it should be a bull market now, but if we expand our focus a little bit, the U.S. stock market is not just the Seven Sisters, and the cryptocurrency industry is not just #Bitcoin and a few assets that have broken new highs. Now it does not
 meet the expectation of an overall rise in the bull market. Take Nike $NKE , which I often use as an example. It ranks right in the middle of the Fortune 500 companies, but Nike, which has reached a new high in the U.S. stock market, has not only not risen, but has continued to be at the bottom. Even McDonald's and Best Buy have not been smooth sailing. Even UnitedHealth Group, which ranks at the top of the Fortune 500, has not risen as well.

As for the cryptocurrency industry, everyone knows it even more clearly. Apart from $BTC , there are even fewer cryptocurrencies that have broken previous highs in this cycle, namely a limited number of $BNB $XRP $SOL and so on. More importantly, there is no new breakthrough in the narrative this time. Many people believe that the Meme of the on-chain bull market is still somewhat different from the actual profitable investors now compared with the previous bull markets.