The biggest problem in the market right now isn't that prices haven't risen, but rather that the rise lacks quality.
After a sharp market drop, BTC prices are recovering and rising, but trading volume is declining. There's no narrative, and no short-term speculative hype. Most altcoins are only passively pulled up due to the BTC/ETH rebound, without any sustainability.
What does this mean?
It means that funds haven't truly returned, but are instead engaged in a cutthroat battle within a zero-sum game.
Some people see this as the end of a bear market?
But the more realistic scenario is that this might just be a rebound amplified by sentiment.
If the macroeconomic environment doesn't improve and liquidity doesn't truly increase, the market is likely to enter a period of prolonged, volatile decline and slow, gradual drops, and a longer period of stagnation.
We all believe that a bull market will continue, but the height of that bull market depends on your initial capital during the bear market and what you bought at the right time. Therefore, for now, waiting is still the best solution.