$BTC The story will not repeat itself in a simple way, but it will always have similar rhymes. The current market is in a typical phase of change amid a bull market: the first wave of impact from the institutional wave brought by the Bitcoin ETF has basically been realized, while the Federal Reserve's interest rate cut cycle and expectations for the approval of the Ethereum ETF are building a second wave of energy. For conscious investors, the most dangerous strategy at the moment is to stay out and watch — it is recommended to adopt a "core + satellite" allocation, allocating 50% of the position in BTC/ETH as an anchor, 30% in leading sectors such as AI, ZK, RWA, and 20% of flexible capital to capture the extreme volatility of MEME coins like Con an. It is important to know that in the crypto world, the greatest risk is not price volatility, but rather not having chips in hand when the trend wave arrives.