The current crypto market has matured more and is no longer overly influenced by the statements of celebrities as it was before (for example, Elon Musk once caused significant fluctuations in the prices of Bitcoin and Dogecoin with just a tweet).
Some main reasons:
Liquidity and market capitalization have increased: Compared to the period of 2017–2021, the total market capitalization of crypto has significantly increased. As the market grows, it becomes harder for any individual, regardless of influence, to cause large fluctuations as before. The community and professional investors are growing: The current market has strong participation from institutions, investment funds, and professional traders, making market sentiment less susceptible to being easily manipulated. The market reacts less to individual FOMO/FUD: Today's investors tend to rely more on technical analysis, on-chain data, and macroeconomic factors rather than on the words of celebrities. Regulation is becoming clearer: Regulatory policies from the US, EU, Hong Kong, Japan, etc., have made the market operate more professionally. However, some individuals or large organizations (such as BlackRock, SEC, Fed, etc.) still have a certain influence, but mainly due to macro factors and capital flows, rather than being a result of unfounded “celebrity praise.” $BTC