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- 💥 Gate Square Event: #Post0GWinUSDT# 💥
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Currently, it is just a rebound and not a reversal. What do I think?
The big pie is indeed just rebounding, because since the pullback from 124500, it has been following a daily adjustment within the weekly adjustment cycle, with a bearish trend. So, it is correct to say that BTC is currently still in a rebound rather than a reversal. It needs to break through 122000 to confirm a reversal. On the other hand, SOL is in a clear upward trend and cannot be considered a reversal; it is inherently a bullish structure. As for ETH, it hasn't turned into a bearish trend since July, so a reversal is out of the question. The rebound is real growth, and the highs will continue to rise.
In other words, both SOL and ETH are still in a bull market. The pullback in early September was just a short-term adjustment, and it is not yet certain whether Bitcoin has peaked. Or we can say that it is very likely that it has not peaked. However, one thing is undeniable: the subsequent price movements will definitely see Bitcoin's gains lagging behind those of SOL and Ethereum. This means that the altcoin season will likely arrive in October and November. At that time, we can expect Bitcoin's market capitalization to continue to decrease.