This round of market activity has indeed been explosive, but most of the profits have flowed to leading institutions and professional teams. Small retail investors frequently trade, but the result is often a series of aggressive moves that ultimately leave their accounts back to square one.

Why do retail investors find it so easy to lose money? There are two main reasons.

First, information and speed are completely unequal. Institutional research teams and large holders have already positioned themselves, accumulating chips like mountains. While retail investors are still tangled in various social media information, the big players have already launched the market. One is ahead, the other is lagging behind; the outcome is essentially decided at the starting line.

Second, the ceiling of the market is fundamentally determined by the joint efforts of market makers and major institutional players. If the main chips have already been absorbed by institutions, the market makers won't get cheap chips, and the market lacks genuine main force pushing it forward. As a result, the market's ceiling naturally remains low. No matter how retail investors chase the highs, they can't break through this invisible ceiling.

In short, this is a battle of information and capital.