Today the US stock market is closed, let's be a bit more rational.

The crowd trading stocks of various tokens and micro-strategies mostly haven't bought the tokens themselves; ultimately, the actual buying of these tokens still needs to be realized through the micro-strategy companies, but fundraising - issuing new shares - buying coins is a process that takes time.

In the past few days, the positive news has been a bit too concentrated, as if in one week all the positive news from the past three months has been released, like with Coinbase.

It's hard to say that it’s not the officials trying to boost the stock price; it feels impossible, but when the expectations driven by news sentiment have run their course, they still need to be reflected in reality and data.

Today in the community, there are many doubts about Circle, with some believing that its stock and stablecoin market value-related data are comparable to the Luna crash years ago. While I oppose this view, from another angle, could this be more like a short squeeze? After all, the scale of the US stock futures market is much larger than that of the crypto circle back then.

Additionally, the views from the Chinese-speaking community in the US stock market are particularly interesting; rather than believing in the crypto circle or stablecoins, it feels more like believing in Trump, with some fantasies comparable to TV dramas and novels.

Many friends have asked why the current state of altcoins in the industry is so sluggish; could it be possible that the old-timers in the crypto circle have become smarter after being taken advantage of, while the newcomers in the US stock market just starting to touch the crypto sector aren’t that savvy yet?

In short, if you're feeling bored scrolling through Twitter, check out how the major US stock communities evaluate posts about Circle and Coinbase; it can be quite interesting, and this has been a source of joy for me these past few days.