April 27, 2025

Recently, the market has indeed been quite good, even ETH has led the way a little. Given the previous performance, I no longer dare to boast about Ethereum's market. As I write this, I'm thinking: Could this also be a bottom signal? In fact, I wonder if everyone has had the realization that market rises and falls are not entirely determined by value, especially for cryptocurrencies, where currently only a handful of projects have commercial value. But what is the core of the rise and fall?

Especially for the factors affecting short-term markets, it can be summarized in one word: "funds". To put it more directly, it's whether there are manipulators. Perhaps when we talk about market manipulators, our reaction is one of deep disdain, thinking they are not a good thing. But objectively speaking, the funds that manipulators possess are the biggest factor affecting prices. Whether it’s the fierce trading of Alpaca in recent days or the rise of TRUMP, there are unseen hands manipulating the prices behind the scenes.

If we accept this, then we should not be overly sensitive to prices. While paying attention to long-term prices, we should not become targets of manipulation in the short to medium term. As long as the assets we hold have value, manipulators will eventually come to operate here. Once a coin becomes a target for manipulators, the rise and fall of the market will happen very quickly. This value is multifaceted—commercial income, traffic, and even chip structure can be factors. As long as it has the value of manipulation for the manipulators, it’s enough.

In any case, the recent market is developing in a better direction, especially as the impact of tariffs has been digested by the market. So just be patient and wait. In fact, during such times, the market is also quite difficult to handle because after experiencing the panic of a deep bear market, it's easy to sell when the market goes up, as it's uncertain whether it's a rebound or a reversal. If you have this concern, I would suggest holding a portion of your position to prevent missing out on a significant market movement.

Thank you for your attention.