#密码资产动态追踪 This wave of market行情 has really exhausted many retail investors. Besides the occasional surge of meme coins, most altcoins only see a 30% increase before they consider it a good run. The market lacks momentum, liquidity has dried up significantly, and we must face a harsh reality — the rules have completely changed.

Looking back at the last bull run, it was driven by a few leading capital players pouring money into the entire market with leverage. They acted like pumps, injecting liquidity, benefiting both major and minor coins. But that bull market was followed by a series of爆雷 (explosive failures), as these major capital giants one after another collapsed, completely destroying the market’s blood supply system.

Without new major funds stepping in, the result is painfully clear — the liquidity landscape has been permanently distorted. Current funds only circulate within core large-cap coins like BTC and ETH, or are siphoned off by highly controlled small-cap coins. Those coins with artificially inflated trading volumes are often just illusions, unable to handle large inflows or outflows of capital.

Therefore, a broad, inclusive bull market is no longer possible. The current game rules are absolutely polarized: either stick to the certainty of mainstream coins or have the skill to fight in highly illiquid small pools against the whales. Nostalgia is useless; the key is to understand the map of the new era. This is an age of liquidity exhaustion, where making money has become significantly harder, but opportunities always belong to those who can see through the new rules.