Since Trump 2.0, irregular events have frequently occurred, and market volatility has intensified. Recently, the wide fluctuations up and down must have been felt by everyone. The turmoil not only comes from outside the market; in fact, the internal logic of speculation in the market is also quietly changing—because the narrative has changed. For example, the market's enthusiasm for AI remains unchanged, but it is clear that there is a shift from 'hard to soft'. #比特币四年周期将改变？