To be honest, if 78000 can't hold, that's when I'll seriously consider the possibility of the bull market ending.

The underlying logic of the entire crypto market is actually pretty clear—if you want the ecosystem to keep running, BTC has to stay strong; if you want capital to keep flowing in, BTC's performance has to outperform the traditional markets. Think about it: if BTC's annualized returns can't even beat the A-shares, why would I bother with wallets and worry about cashing out? Wouldn't it be better to just buy stocks?

So from a risk-reward perspective, BTC has to show some overwhelming advantage, otherwise this narrative won't hold up at all. Every market participant has their own measure—nobody's money grows on trees.