The market always follows this pattern: retail investors are bearish, while institutions and project teams only promote bullishness. The logic is simple—who would want to talk down their own work? How do they make a living if not by continuously attracting retail investors? As long as they shout about cyclical bull markets and eternal bulls, this narrative always seems to hold up. But in the end, retail accounts turn red, and the money is gone. Who should take responsibility for this? Essentially, it’s determined by information gaps and利益链条—different stances naturally lead to different rhetoric.