The market has entered a critical phase; how long until the fake bull market?

The current issue lies in everyone selling off the valuation of VC coins. Retail investors are not buying in, and institutions cannot recover their costs. Many new coins on Binance have dropped by more than ten times. Previously, there was no voting mechanism for new coins, and some undervalued projects still had wild operators. Now, undervalued and illiquid projects face delisting at any time.

Ultimately, the bear market cycle is too short. With Trump's election, expectations for a bull market have been amplified. It is all about internal liquidity; without attracting external social capital, a bull market cannot arrive, and it will definitely be an industry self-indulgence for one month like a cat and then for one month like a dog.