Galaxy CEO Mike Novogratz posted on the X platform that the crypto market has been very sluggish recently. After a long bull run, many long-term holders are beginning to readjust their asset allocations, diversifying investments and reducing concentrated Holdings. From a medium to long-term perspective, diversifying Positions is beneficial for market development, but it will put pressure on prices in the short term. At this stage, the crypto market has not reached cyclical highs. By the end of this year, the Fed may welcome a new chairman, whose stance is expected to be more dovish than what the market is accustomed to, hopefully serving as a factor to stimulate the next pump.