BTC recent rally has slowed down, and many people are starting to be pessimistic, but there's really nothing to worry about. In my opinion, this is just a normal cycle in the crypto world.

Looking back at 2017, BTC dropped from 20,000 to 3,200, and at that time, the whole screen was filled with voices saying "the crypto market is doomed." But what happened next? By 2021, it reached new highs again. The current situation is less a crisis and more a market brewing its next story.

Altcoins have indeed been affected, but from another perspective, this has just created space for projects with real practical applications. It's similar to the logic in the stock market—bear markets are the best time for filtering. The gap between good companies and air projects will be amplified infinitely.

However, at this stage, simply speculating on BTC without considering macro factors is no longer enough. We need to shift our focus to the actual flow of funds and where the new capital is coming from. Just look at the continuous influx of ETFs; traditional capital's understanding of BTC is deepening, which is a positive sign.

As for the future of the crypto industry, frankly, it's not about how much BTC can rise, but about what real-world problems this industry can truly solve. Currently, hot tracks like AI and RWA are aligning more with the traditional world, and within these, there are real opportunities.