When the cheers once again echo through the valley: a familiar "Mid-Game Illusion"

History always repeats itself in astonishing ways. It doesn't simply repeat but always follows the same rhyme. As the market once again oscillates near $70,000, there is an unsettling sense of familiarity in the air — this is not the calm before dawn, but rather a moment of noisy anticipation during a grand tragedy's halftime.
We have witnessed this scene before, not just once. It’s like a scripted play with a fixed plot, where, under the dimming and brightening of the spotlight, new actors perform the same storyline. The illusions of a "mad bull" about to break through the fences, and the voices hastily declaring an "eternal bull market" at the slightest rebound, are precisely the most dangerous warning signals in the market.
The lessons of 2022 seem to have been selectively forgotten by many. That June, the script played out vividly. When Bitcoin hovered around $30,000, market sentiment was like a lit fuse, rapidly heating up. People spun stories of the "institutional cost line," building illusions of an "iron bottom," as if the temporary stabilization of prices was a rallying call for bulls. FOMO (Fear of Missing Out) spread among the crowd, dragging hesitant investors into a bullish torrent. However, this brief calm was not the tranquility after a storm but an interval where the storm was gathering strength. After the carnival ended, prices plummeted from 32,000 points to the abyss of 18,000 points. Countless people cheering on the "iron bottom" ultimately became echoes in the depths.
Today’s market, whether in terms of chart structure, emotional rhythm, or public opinion trends, exhibits a strange isomorphism with that time. The sideways price movement is interpreted as "building momentum," and every slight upward move is seen as evidence of a "bullish signal." The bullish sentiment, like fermenting dough, continues to swell amid the quiet consolidation. We are standing at a critical juncture, a moment that almost perfectly overlaps with June 2022. When the entire internet is once again flooded with calls of "bull," when doubts are completely suppressed, and everyone firmly believes "this time is different," the dangerous shadow is quietly approaching.
This is not alarmist talk but an inevitable pattern of market cycles. The market’s fangs only reveal themselves at the most complacent moments. This calm, rather than being the wait before dawn, should be seen as the last tranquility before the storm. What we are experiencing may not be the prelude to a mad bull but a carefully disguised "Mid-Game Illusion." $BTC $ETH