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Crypto influencer Hu Wan'er VS Leibit Mining Pool's Jiang Zhuoer Has the bear market really ended? Jiang Zhuoer and I have completely opposite views. Jiang Zhuoer recently stated he is 90% confident the bear market is over, even giving a bottom-buying range of 67,000 to 72,000. As a veteran trader who entered in 2017, my judgment is completely different: this bear market round is actually not over yet. This recent rally is more of a short squeeze driven by news rather than a bull market sparked by organic capital inflows. Spot Bitcoin ETF buying pressure has clearly weakened in phases, and institutional follow-up capital momentum has diminished. The market surged quickly in the short term, with indicators entering extreme overbought territory. Looking back historically, when the market reaches such overheated conditions, it often leads to a significant mid-term correction. Recently, liquidity risks have surfaced: $XRP experienced a rapid flash crash, and there have been large-scale contract liquidations across the network, signaling weakening market support. He focuses on the macro long-term cycle returning, while I focus on the realistic aftershocks in market technicals. Shouting "bull market is back" at 78,000 and previously predicting a total crash at 60,000 are both essentially driven by market sentiment. I am not optimistic that the market will keep rising straight from here. Based on market signals, Bitcoin is very likely to face one last downward plunge. Spot holders can hold with confidence, but avoid contracts as much as possible; if the market is unclear, patiently wait for opportunities. Hu Wan'er only holds $BTC and $OKB There are no forever right gurus in crypto, only profits and losses in the market.