#比特币对比代币化黄金 has been observing for a few months, and the more I watch, the more interesting it gets. Around mid-November, the underlying logic of the market changed—the previously benchmarked asset quietly took a back seat, and now the real driver of prices is another asset.

What's interesting? The new asset has more dispersed liquidity, so in theory, even retail funds can make waves, which should make it harder to precisely control the market. But in reality: when it needs to pump, it pumps; when it needs to dump, it dumps; and key levels are held tightly. The level of operation is truly impressive.

However, my personal rule is clear: I never touch any asset I suspect of being heavily manipulated. It's not about fear of losing money, but about avoiding getting thrown off rhythm and affecting my own judgment system.

That said, there might be big moves next week. If things really go this way, $BTC could see a strong rally that changes perceptions. $ETH and $BNB will probably move as well. Let’s wait and see—the market will always give an answer.