In this round of the bull market, BTC passed the ETF, and many institutions have been hoarding BTC, driving it up to $120,000. I've been thinking about what will drive the next bull market. It feels like all the good news has been released, and all the potential buyers have already entered. I really can't think of what story will inflate the bubble and drive the price up in the next bull market. This is a question worth pondering; I think it's very difficult to sustain a big bull market purely on the narrative of decentralization.