Last night, the non-farm payroll data was released as a positive signal, so why isn't Bitcoin moving? Recently, news of rate cuts and hikes has been bombarding the market, yet prices remain flat as a mirror. Don't think it's due to market manipulators or exchange system glitches; in fact, the market has already finished telling its story—trades have been set up long ago, and now it's just waiting for new players to take over.

When expectations are realized, it's called "expectation fulfillment." The main funds that had been lurking start to realize profits and sell off their positions. What about the new capital coming in? None at all. That's why prices stay stuck. The same logic applies in reverse: when bad news hits, everyone runs away, leaving only some "hardcore" traders and bottom-fishers, and the market can't rally.

Mainstream coins like SOL, BNB, and BTC are all playing this game. Once in this "garbage time," it's just range-bound oscillation with extremely low volatility. Ultimately, what determines market ups and downs? New funds. Right now, the market is full of savvy traders who enter and exit quickly; the truly big, foolish money that can hold the market up is scarce. Bulls and bears are just tugging at each other, evenly matched.

In such an environment, what should you avoid doing the most? Trading based on news headlines. That’s just giving the big players a target. The market is waiting for unexpected black swans—sudden large capital inflows, macroeconomic reversals, extreme sentiment shifts, or technical signals that suddenly point violently in one direction. Until then, the market will continue to grind slowly, gradually wearing down everyone's patience and washing out those who are not committed. Manage your positions well; both bulls and bears should keep an eye on each other, but don’t go all in.