Trader Rocky: The market is still in a bearish trend, with only HYPE in a bull market, which will continue to reach new all-time highs

BlockBeats News, August 26th: Renowned trader Lu Yao posted, stating that any extrapolation of trend prices is only a probability. Traders should recognize the probabilistic nature of this game to avoid irrational decision-making and overleveraging. Personally, I believe the entire crypto market is still in a bear market, with only HYPE in a bull market cycle as it has hit an all-time high and is poised to continue reaching new highs!

Lu Yao recently mentioned that after the market rebound, the current crypto market is still in a bear market on a large scale but may have entered the latter stage of the bear market, which can be referred to as a "Monkey Market," with the market showing obvious "ups and downs" features. The ongoing uptrend is expected to continue, with Bitcoin possibly further testing $90,000 to $100,000. However, considering the duration and previous decline, the bear market cycle is not over yet, and the market may still experience significant volatility. Crypto investors are advised to avoid being fully invested or completely in cash at this stage but to participate with an appropriate position size.

According to HTX market data, HYPE has recently shown strong performance, rising sharply from a low around $51, surpassing its previous high of $83, and is currently trading at $81.