Many of the major events that are expected to happen will shape the price of the market in the short term, including the Bitcoin halving, some countries are preparing to approve spot bitcoin ETFs, etc., Bitwise believes that the adoption of cryptocurrencies is now only about 1% complete, and there are still 99% to be developed, suggesting that the cryptocurrency market has huge room for growth. Even if the average allocation of global wealth managers is only 1%, this could lead to an inflow of about $1 trillion into Bitcoin. Common on-chain indicators suggest that we are still in the early stages, and in the case of MVRV, the value has not yet returned to the upper red warning zone, which has always been touched in past cycles.