Many people should feel that this round of bull market is significantly different from the previous round, mainly manifested in:
The wealth effect is insufficient, there is no general rise in the previous round of flourishing, the choice of the target is very important, and you will lose money if you are not careful, and most currencies cannot outperform BTC
The trend of value coins is often not as good as Memecoin, and the trend of many value coins listed on the stock exchange is falling all the way
The sector is seriously divided, funds only circulate within their own ecosystem, and the rotation is not smooth, giving the market the feeling that there is no synergy
Due to the scripted and clustered development of the airdrop industry, competition has become very fierce, and many impacts have been generated
The narrative led by BTC is not as "fast and rough" as the previous narrative, and it is in a relatively cold state. At the same time, DEFI does not seem to be favored in the BTC narrative
Although Web3 games received huge financing in the last round, they did not produce explosive products
After observing these phenomena, I tried to explore the reasons. We call the last round of bull market "water release buffalo" because of the large-scale water release in the world (mainly the United States), the spillover effect of funds is very obvious. In this round, we can clearly feel that "funds are not so sufficient"
We need to be deeply aware that: Although we can have optimistic expectations for the future "interest rate cuts and water releases" and ETF incremental funds, the current funds in the market are indeed not sufficient!
In a market where funds are not so abundant, limited money must be used to do more things and to allocate to different roles, which will inevitably lead to intensified game in the market, which is also the internal reason for the various "changes" we can see. In this scenario, the development status and logic of various parts of the industry have changed, and the development of the industry will also enter a new pattern.
