#以太坊行情解读 $BTC $ETH

In this round of market conditions, retail investors are indeed having a tougher time.

Bitcoin has reached new highs, but look around you, very few people have seen their assets rise alongside it. Where is the problem? It's simple - the rules of the game have changed, yet we are still playing with old methods.

HODL used to work, but now it has become a trap. I have a friend who went all in on a traffic coin, convinced it would explode. What did he get? Liquidity evaporated directly, and his account shrank by nearly 90%. It's not just about the money; what's more hurtful is the loss of confidence.

Why is this happening? The nature of the market has changed:

**Institutional funds concentrated in Bitcoin** - ETFs have absorbed most of the capital into a single asset.

**Altcoins Have Become Isolated** — Liquidity is becoming increasingly thin, and small to mid-cap projects are particularly struggling.

**Incremental funds are gone**——The speed at which new money comes in cannot keep up at all, and the rotation effect has disappeared.

Looking at the macro perspective, it is both contradictory and strange: the slowdown in inflation has raised expectations for interest rate cuts, which sounds positive. However, the continuous depreciation of the yen sends a rather ominous signal - the warning lights for potential risks have been flashing.

If there is really a rebound next year, my advice is to wake up. At that time, the wisest choice is usually not to increase your position, but to take the opportunity to adjust your holdings and clarify which projects are truly worth holding. No matter how high the rebound of illiquid coins is, cashing out will still be a challenge.

Ultimately, this round of reshuffling tests survival ability, not the size of returns. Surviving to see the next wave of opportunities is what makes one a winner.

How is your current position allocation? Or, what are your thoughts on next year's rhythm?