QT has ended. Is this really a signal of the 'return of the bull market', or is it just the 'last gasp before printing money'?\n\nHistorically, the end of QT does not necessarily mean that a bull market is on the way. The real key is to see when QE will restart.\n\nEven if QE does come, we must accept reality: the crypto market is now huge, and the volatility is not what it used to be. The kind of frenzied market that easily saw tenfold increases is hard to replicate now.\n\nBoth excessive optimism and pessimism are inappropriate. The market is becoming larger, more challenging, and more mature; we need to remain calm.\n#加密市场观察