Two reasons for U underpricing:

1. Because the interest rate cut has begun, it will continue to cut in the future, so the US dollar will continue to decline in the long term.
2. In this last bull run, Whales are selling their coins while the price is rising, causing a big drop in price. Coin hoarders who bought cheaply during the Bear Market are now making several times the profit due to the rise.
BTCHalving, BlackRock's BTC ETF has also experienced several waves of hype. The biggest concept is that when the Fed cuts interest rates, it will cut by 50 basis points. How many times can the Fed cut interest rates by 50 basis points? Obviously, it cannot sustain for long. Therefore, in this round of interest rate cuts, there will be a short-term bull market. The Whales who caught the bottom in the past few years are now leaving the market with large amounts of profit during this big rise.
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