Bulls are celebrating. Bears say they'll be crying soon. BTC has ripped back above $85K, but the market still feels strangely quiet. > BULLS - BTC went from ~$80K to $87K+ ~$999M flowed into spot BTC ETFs in a single day - Institutional demand is showing up again - Risk appetite is returning > BEARS - BTC is still ~30% below its $126K ATH - The move has been extremely fast - Part of the rally was fueled by short liquidations - One strong week doesn't confirm a new bull market But there's something else I'm noticing that isn't on the charts: - Crypto still feels quiet. - Discords, Telegram groups, timelines... I'm not seeing the level of excitement I'd expect after a move like this. And I think there are two possible reasons: 1. People still don't believe the bull is back. or... 2. A lot of people were waiting for much lower prices and are now watching BTC pump from the sidelines. And the second one would explain a lot. It's hard to celebrate a pump when you're underexposed to it. So I'm curious: Was the bottom already in and the bull is back? Or are the Bears right and this is just another trap? BULL or BEAR? Pick a side and tell me why.