9.26 A Few Thoughts on the Market Outlook 1. Has the bull market ended? Not yet. BTC's weekly bearish divergence doesn’t mean the bull market is over—it just indicates weaker new highs, which is a late-stage characteristic. However, it can experience multiple bearish divergences and maintain high-level consolidation. Of course, the fact that the bull market isn’t over doesn’t mean we’ll see a repeat of the crazy altcoin seasons of 2017/2021. In a long-term neutral interest rate environment, altcoins lacking ETF or crypto-equity support won’t have a chance to make a comeback. Don’t place too much hope on altcoins. 2. When and where will the decline stop? Since the start of the bull market, BTC’s weekly-level corrections have ranged between 20%-32%. The correction target will likely stay below $100K. The correction period may last 3-5 months, so bottom-fishing probably won’t be viable until after November. 3. Which asset should you buy at the bottom? ETH is the top choice. BTC and TOTAL3 have both shown weekly bearish divergence, but ETH’s trend remains very healthy. Whether it’s ETH/USDT or ETH/BTC, there’s at least a second wave of weekly-level growth ahead. Additionally, the two major crypto-equities, BMNR and SBET, have millions of ETH with an average cost of $3600-$4000. The future looks promising.