Who determines the true direction at the critical point between bulls and bears?

Today’s BTC is more like standing at a crossroads: technically approaching a breakout zone, sentiment gradually warming, but macro variables still exist. The essence of the bulls and bears game is the divergence in market expectations about the future.
From a cyclical perspective, if this is the start of a new mid-term trend, three signals are usually observed: a pullback that does not break key support, altcoins beginning to rotate, and trading volume increasing in a stepwise manner. Currently, the first signal is emerging, but the other two still need confirmation.
Institutional behavior is equally crucial. If ETF funds continue to flow in net, it indicates long-term capital is positioning, which determines the trend’s depth, while retail investors tend to amplify volatility.
Interestingly, at the beginning of each market cycle, most people are skeptical; when everyone is truly bullish, the market is often already in the middle or late stage. Markets always rise amid hesitation and end in madness.
My inclination is: the trend leans bullish, but the rhythm is bumpy. A straight-up rally is unhealthy; oscillations that raise the center of gravity are more conducive to long-term growth.
For ordinary investors, rather than betting on the direction, it’s better to bet on discipline. The market rewards those who are prepared; if you make a wrong move, having a plan in place is protection.
The market won’t go up just because someone expects it to, but it will reward those who are well-prepared. $XRP #比特币反弹