When the price of Bitcoin rebounds to $62,000, don’t rush to chase the long position and stay calm. Many bull market corrections in history have caught people off guard. Rather than act impatiently, it is better to wait patiently for the trend to become clearer.

Bitcoin’s recent trends have diverged from the familiar patterns of the past, with rapid sell-offs and pull-ups in the market often defying expectations. There was no correction during the correction, and there was no shock during the sideways movement. It is especially important to remain calm when the market repeatedly deviates from our familiar cognitive framework.

In trading, we should believe in the facts we see before us, rather than our own subjective guesses.

Whether it was Bitcoin's peak from US$54,000 on July 8 or its rapid rise yesterday, Bitcoin has not driven a significant wealth effect in the market. Altcoins are still performing sluggishly, with some even not rising as much as Bitcoin itself. In the absence of a "locomotive effect", it is difficult to say that this is a true "bull market return."

Looking at the facts calmly and objectively, every time Bitcoin yanks up or drops sharply with the help of news, apart from generating a large amount of liquidation data, it seems that no substantial market changes are left behind.

In my opinion, a true bull market return can only occur under the following two scenarios:

Bitcoin broke through $70,000 and hit a new high, completely out of the structural market.

Bitcoin drives altcoins to rise wildly, and the market returns to the logic we are familiar with.

In addition, blindly chasing long prices or buying low prices will often only lead to being trapped. Testing again and again, failing again and again, and missing opportunities repeatedly will affect your mentality. The real return of the bull market does not care about this increase, but to prevent being suffocated and trapped repeatedly. It is better to observe first and see how Bitcoin will perform next.