#BTC对标贵金属的竞争格局 has an observation: the current trend in the crypto world increasingly resembles the structure of the US stock market—establishing a long-term upward trend. $BTC's performance is the most intuitive, always attracting major liquidity as the market flagship. $ETH, as a representative of smart contracts platform, maintains resilience under the support of ecological application expansion. $BNB performs excellently driven by both the trading ecosystem and on-chain applications.

The formation of this long bull pattern is a process in which the entire market evolves from the speculative phase to maturity—institutional funds continue to enter the market, the recognition of environmental policies is increasing, and application scenarios are continuously being implemented. Compared to the past's unilateral surges and crashes, the current rhythm resembles the operational logic of traditional financial markets.

Of course, this process will not be a straight line; fluctuations and pullbacks always exist. However, the long-term upward trend seems to be becoming the new normal.