After in-depth consideration, I found that the current cryptocurrency market lacks substantial technological narrative support. Innovative fields such as LSD and RWA seem to have failed to provide sufficient momentum, and there have been no truly revolutionary technological breakthroughs, lacking exciting storylines that can attract the market. If such technological innovations do emerge in the future and open up new tracks, the market may welcome a larger wave of growth. Of course, this is only an analysis from the perspective of industry technology and does not involve factors such as volume, price trends, and macro monetary policy.

The most significant feature of this round of the market is the prevalence of meme coins, but this phenomenon is difficult to sustain the overall market heat for the long term, making it destined for the trend to be unsustainable. Investors often fall into a "recharge - purchase meme coins - loss" cycle.

Value-type leading coins undergo consolidation during market downturns, making it difficult to meet investors' return expectations. The lack of significant wealth creation effects, intensified internal market games, and gradually decreasing liquidity lead to disappointment among new and old investors, causing them to exit the market. This situation is detrimental to the entire ecosystem and is not what market makers and proprietary trading firms hope to see.

Ethereum has left more and more people feeling disappointed, while Bitcoin's high price makes it daunting for many. This market cycle is indeed full of challenges, and I hope every participant can persevere. Regardless of how the market trends in the future, please remain confident in your own judgments and choices.