The current state of the crypto world is quite frustrating. Liquidity is severely dried up, consecutive breakouts, the market is filled with gambler mentality and various scams, and the profit-making effect has completely disappeared.

Where is the motivation for newcomers to enter? There is none. Ethereum hasn't even stabilized at a new high, and traditional assets have outperformed the crypto market. Under this situation, why would external funds be attracted? From a macro cycle perspective, global liquidity is increasing, which should theoretically push up digital assets. But reality is more complex—institutions are entering, large investors and old players are reducing their positions, and the market is severely polarized.

A shakeout is needed. There are too many coins in the upward trend, and the amount of tokens unlocked daily is piling up, creating huge pressure later on. Meanwhile, the US stock market hits new highs again, commodities' gains are limited, and the Chinese New Year holiday causes the A-share market to close, as does the US stock market. This time window is critical—only when traditional markets pause will funds gradually flow back into the crypto space. The opportunity for Bitcoin is right here.

The market itself has no right or wrong; it tests your adaptability to this wave of行情. Be prepared for the worst, keep a steady mindset. Keep going.