As the new wave of market trends continues to deepen, my feeling is that the market structure and speculation logic are quietly changing:

From "fast assets" being rapidly phased out to "slow assets" settling and returning:
The speculation trajectory after 2013-2025: (My sense is the trend is from slow to fast, continuously accelerating)
Btc → Pow meme (representative: doge) → eth ushers in the era of public chains → eth DeFi summer/NFT/GameFi → eth meme/bsc meme (shib peaks, zoo market) → (btc ecosystem + Solana era + base ecosystem) → bsc meme
Looking from 2025 to now, the future speculation trajectory might be:
1. From fast to slow, beginning to decelerate, returning to a narrative of consolidation (meaning more solid consensus) + community-driven
2. Capital flow begins to transmit from Sol → bsc → eth → btc ecosystems
History is a cycle; all narratives in the crypto world start with btc and will ultimately return to the Bitcoin chain (after the Aave incident, overseas discussions are already debating the fragility of non-Bitcoin DeFi)
$Asteroid or $ordi are both experiences of time & narrative consolidation before returning, which also means more solid consensus.
From the extreme of PvP back to PvE
From "attention fast food" to "consensus consolidation + community first" (Community is first)
Big changes are underway.