Bitcoin at 120,000? Ethereum at 4,700? Don't be ridiculous! This is the institutions' bull market, not yours!
Bitcoin surging to 120,000 and Ethereum skyrocketing to 4,700 may seem bullish on the surface, but in reality, it's a mess. A real bull market? Wake up! This is an institutional feast, not your carnival.
Last September, Bitcoin was still over 60,000 and Ethereum just 2,600. A doubling should have ignited the scene; the group chat should be filled with daily calls for hundredfold coins, and social media should be overflowing with “who got rich again”. But what’s the reality? Altcoins didn't surge, they were continuously halved, and it was dead quiet.
Think about the last bull market: everyone was asking daily, “Where’s the next hundredfold coin? Who will be the thousandfold coin?” Retail investors rushed in, capital flooded in, altcoins took off wildly, and the wealth effect piled on layer after layer. Bitcoin surged with the trend, the Ethereum ecosystem exploded, and on-chain excitement was at its peak. That was a bull market!
What about this round? Hundredfold coins? Ha, don’t even think about it. Tripling is already a sign of good fortune. Bitcoin and Ethereum are only being propped up by institutions; on-chain activity is as cold as a graveyard, and the altcoin sector is desolate. Retail investors are afraid to enter, new money isn't coming in, and all that's left are institutions drawing up plans and self-amusement.
So you see this absurd scene: Bitcoin at 120,000 hitting a new high, yet the whole network is eerily calm; Ethereum at 4,700, and people don’t even have the interest to argue. Why? Because there’s no wealth effect. Without the hundredfold myth, without wealth stories, no one is willing to take the risk to jump in.
New money isn't coming in, and old money is afraid to crash the market; it can only rely on institutions to prop up the surface prosperity. How long can this kind of “bull market” last? Everyone actually knows in their hearts. Ironically, Bitcoin's circulation is decreasing, miners' influence is being suppressed, and the market is almost completely controlled by institutions. A market without altcoin seasons and without wealth effects has, to put it bluntly, lost its soul.
So don’t be deceived by the numbers. Bitcoin at 120,000, Ethereum at 4,700 does not mean the bull market has arrived; it’s just institutions' self-amusement. A real bull market should have everyone asking, “Who is the next hundredfold coin?” instead of today’s eerie silence.
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