The Bitcoin ecosystem has become a bull market engine, but the market has diverged on new entities, missing out on wealth effects. It's still early days, the pattern is not yet set, and opportunities are still present. This article combs through the Bitcoin ecosystem, with a focus on Layer 2 scaling solutions like the Lightning Network, Merlin Chain, B² Network, and BEVM. The application layer also has potential for development, which is worth looking forward to.