Both red and green charts are illusions; the true market reality lies in liquidity layering.

Most traders are deceived by the sea of green candlesticks, believing the crypto market is experiencing a broad recovery, with altcoins rallying one after another and a general bull run starting anew. But strip away the surface hype and look at real capital flows, and you'll see: the market has never truly recovered—it's nothing but an extreme game of survival among existing players. The online optimism and the endless green candles are just false prosperity manufactured by existing capital, not a genuine market-wide uptrend.

The biggest trading mistake right now is viewing this structured market through the lens of the old general rally. Fresh off-market capital hasn't entered the scene; all the ups and downs are simply shifts of funds already in the market. Instead of spreading capital everywhere, players are now clustering around the best picks, concentrating limited liquidity on a few coins with strong whale support and solid buy-side depth. Leading assets keep absorbing funds and rising, while the vast majority of small-cap coins languish unattended, bleeding slowly. Polarization has become the norm. $BTC #BTC下探60000美元关键关口