Bitcoin and Ethereum are nearing all-time highs. With such a surge, the market should have been gripped by FOMO. However, the reality is quite the opposite. Some claim that most people missed out on this rally, but the truth is that most people haven't recovered their altcoin investments—those who held positions during last year's pre-tariff surge haven't traded in, and are even experiencing significant losses.

This is simply a case of many people still trying to figure out the right path: they assume that if Bitcoin hits a new high, altcoins will follow suit. However, Bitcoin already hit a new all-time high in mid-July of this year, and now it's poised for another, while most altcoins are still struggling. Holding on to existing positions, clinging to old thinking, will ultimately lead to a mess.

Ultimately, it's the mindset ingrained in us by the past four years of bull and bear cycles that hasn't changed. Most people were hoping for a bull run after the Bitcoin halving, but many bought into the market at high levels in the first half of the year, completely unaware that the market logic had already shifted. Earlier this year, I wrote a special article stating that the four-year bull-bear cycle is a thing of the past, and trading systems must adapt to market fluctuations. Aren't the losses we suffered in the first half of the year enough of a lesson?

With the entry of consortiums like MicroStrategy, coupled with the influx of institutional funds brought by ETFs, Bitcoin has become completely "US-like," firmly controlled by consortiums. The core logic is: traditional institutions have bought approximately 12% of BTC, while institutional holdings of ETH are only 4%-5% at most, leaving ample room for growth. In the second half of the year, these institutions will likely continue to increase their holdings, bringing ETH holdings to around 10%, approaching BTC levels. At that point, ETH's performance will gradually increase.

Of course, while the market has escaped the four-year cycle, the cyclical nature of the cryptocurrency market remains. There's no doubt that there are ups and downs. Bitcoin and Ethereum are not Ponzi schemes; they have their own cyclical patterns, but this cycle is significantly different from previous ones. The right thing to do now is to leverage the remaining time to accumulate wealth, learn to lock in profits, and maintain valuable positions. @WalletConnect #WalletConnect $WCT #BTC走势分析 #ETH $BTC $ETH