#数字资产生态回暖 Recently, I’ve been trading very frequently in the short term. It’s rare to pause and take a look at the market situation, but suddenly I have an uneasy feeling—what’s wrong with this market?

From a technical perspective, rebounds at this level used to be routine, often lasting over 48 hours before prices dropped back down. But now? The rebound has just begun, and the support at 4.8 hours isn’t even broken yet—they’re dropping straight down. This kind of fleeting weakness, like a “firework in the night,” I’ve only seen a few times in the early stages of a bear market.

BTC’s recent surge has been quite fierce, but ETH and SOL—two long-standing mainstream coins—are looking weak. In this so-called new upward cycle, they are almost invisible—they lack technical breakthroughs, no explosive application developments, and even sentiment isn’t moving. Frankly, these two coins seem to be copying the old paths of LTC and XRP: once commanding the market, now gradually becoming mere supporting characters.

Ethereum is even more outrageous. V神 used to frequently appear to share technical directions and paint the ecosystem blueprint, but now the foundation’s presence is fading. One can’t help but wonder if they’ve already earned enough profit.

What does a healthy upward trend need? Sector rotation, mainstream coins working together, and capital vitality spreading through the market. What’s the current situation? Funds cling stubbornly to BTC, while other main coins are staying up late—this structure itself is fragile as cardboard. BNB, on the other hand, has been quietly operating, showing signs of making money in silence.

Looking at the bigger picture, there are indeed some waves in the global macro environment—the US political chaos, high costs of maintaining alliances abroad. Especially with the effort to boost economic data, various measures are being deployed: pushing the Fed to cut rates, personnel adjustments, government risk pressure, frequent tariff threats—these actions are gradually eroding the credibility foundation of the government and the dollar. Nasdaq keeps hitting new highs, and the crypto market is also moving weakly upwards, but this foundation for the rise is too unstable. The market has long digested the rate cut expectations; when the actual cut happens, it’s likely to be a “bad news turns into good,” or rather, a false positive.

All signals combined, the trend is becoming increasingly clear: we are likely approaching a certain level of correction or even a turning point.

But looking at it from another angle, market chaos often becomes an opportunity for those who stay clear-headed. Most people are not vested interests, and real opportunities are hidden within disorder.

Now is definitely not the time to blindly go all-in. What you should do is stay alert, protect your chips, and wait for the market to send clearer signals.