The cryptocurrency market has reached this current state, with the duration and magnitude of trend markets greatly reduced or even extinct.

The core reason is that the cryptocurrency sector has developed for over a decade, forming a large amount of old money, which has banded together into institutions that prevent newcomers from climbing up, resulting in class solidification.

There is too much old money in institutions; they only seek appreciation. Most of their strategies are machine-driven quant trading.

There is an overwhelming amount of quantitative capital in the cryptocurrency market, much of it involving various parameters in grid trading: buying when it drops, selling when it rises, leading to continuous market fluctuations.

They have already earned hundreds of millions, or even billions. Earning 20% or 50% in a year still brings in a significant amount, but our principal is only 10,000 or 100,000; we need dozens or hundreds of times the return, and we need to engage in discretionary trading.

However, only trend markets can allow discretionary traders to make big profits. The cryptocurrency market has been manipulated by quantitative funds, and there are no longer any trends.

It's no longer a chaotic era where small bets could lead to sudden wealth; the cryptocurrency market has changed. ☹️