There are too many people going long, too many greedy people.

Although the fear index has dropped to the 20 range.
But high leverage still leads to significant price fluctuations.
In addition, the company that initially used ETH to increase its value was forced to sell.
Basically, there will still be a further significant drop.

Has the bull market ended? I don't think so yet.
Of course, you need to clear the leverage before it can rise again.
But this bull market needs to break through the historical high.
Regardless of BTC.ETH
I think it's relatively difficult.