It can be seen that a new rally is brewing recently. From the perspective of price breakthroughs and capital movements, there are indeed some signs.

But to really say it's a monthly-level trend, several conditions must be met. First, sustained volume must break through the $97,000 to $100,000 barrier—single breakout doesn't count; it needs to stabilize. Second, ETF capital inflows must form a stable trend, not just false signals. Lastly, macro factors must align, such as clear positive regulatory policies, to support the trend.

If these conditions are all met, the monthly rebound can truly take hold. The performance over the next 1 to 2 months will be crucial and worth close attention.