#加密生态动态追踪 Recently, trading has been too frequent. Taking a calm look at the market, I suddenly started to panic — this行情似乎有点离谱。

From a short-term perspective, in the past, a rebound of this magnitude could usually last for about 48 hours before weakening. Now? The rebound signal just appeared, and it skipped even 4.8 hours before plunging. This kind of "rise then collapse" trend has only been seen in the early stages of a bear market before.

Bitcoin has indeed been strong this round, but Ethereum and SOL are underperforming significantly. Nominally it’s an "institutional bull market," but they remain completely hidden throughout, with no technological breakthroughs, no explosive application layer, and even market sentiment is hard to ignite. Frankly, it’s a bit like copying the stories of Litecoin and Ripple — former stars whose brightness is fading.

Ethereum’s V神 has long been barely visible, and the Foundation’s presence is weakening, raising doubts whether they've already achieved their goals and are now taking a back seat.

A truly healthy bull market should feature rotation across multiple sectors with mainstream coins advancing together. Currently, the pattern is that funds are tightly holding onto Bitcoin without letting go, while other mainstream coins continue to underperform. This structure is fragile like thin paper. On the other hand, Binance Chain’s tokens have been quietly operating, making money discreetly.

Looking at the macro level, the situation in the US is chaotic, with increasing party polarization and rising costs for maintaining external alliances. Trump is pushing aggressively to produce good economic data: pressuring the Fed to cut interest rates, replacing key positions, playing risky games like government shutdowns, and frequently wielding tariffs as a weapon. These actions are subtly eroding the credibility of the US government and the stability of the dollar.

NASDAQ repeatedly hits new highs, and the crypto market follows with a weak upward trend, but this rally is too superficial. The market has mostly digested the rate cut expectations. When the actual rate cut policies are implemented, it’s likely to follow the old pattern of "good news turning into bad news."

All these signals collectively point more clearly: a correction at a certain level might be imminent.

Chaotic situations are always opportunities for retail investors to turn things around, as most people are not part of those vested interest circles. The smartest approach right now is to stay alert, monitor closely, hold onto your chips tightly, and avoid being blinded by FOMO.