#大户持仓变化 I've heard that many people are bearish on this round of the market, saying the bull market is over — but that's not necessarily the case.

Looking back, does the current rhythm resemble an ending? Actually, it’s more like doing a "clearance" work. The market is like that; it first needs to shake out the impatient before launching a real upward move.

The recent half-year trend is quite interesting: Bitcoin is stuck around 100,000, repeatedly grinding, various altcoins are being hammered hard, and there are complaints everywhere online. But if you stay alert at this moment, you can see some clues —

This "despair to the extreme" atmosphere is often a psychological test before a big move. The market is asking: do you really believe, or are you just talking? Those players who want to get rich overnight and lack patience have already gotten off. The remaining are the true participants.

Where are the real chips? Institutions are quietly accumulating, and policy signals are also quite positive. The Fed’s rate cut cycle is still ongoing. More importantly, the true breakout of tracks like AI, RWA, Layer2 has not yet arrived — these are very likely to be the major directions in 2026.

Don’t treat the 2024 hype as the ceiling. That’s just a small trial; the real celebration won’t start until the year after next.

The current question boils down to one sentence: the market has given you a chance to get on board, do you dare to step in?

The future bull market is no longer the era of "money everywhere." It belongs to those who choose the right direction, have a sense of rhythm, and can persist. Choosing the wrong track, even a tenfold increase won’t matter to you; choosing the right one, ten times is just the beginning.

The key test isn’t in the rise or fall itself, but in the psychology. Can you withstand these months of coldness? Can you stay rational amid repeated fluctuations? Can you avoid being swayed by market noise?

The market will indeed fluctuate, and people’s hearts are easily shaken, but the bull market always favors those who can endure, stay steady, and don’t act recklessly. Don’t chase highs and sell lows, don’t mess around blindly, and don’t be too anxious.

Hold on a little longer, survive the quiet period of 2025, and the opportunities in 2026 will open wide. Looking back then, this position now is just a discounted entry point.