#以太坊行情解读 Independent market trends will eventually appear; it's a matter of probability.

Currently, the money in the crypto world is divided into two groups. One is the existing capital within the market competing internally, and the other is new funds flowing in from traditional finance. The biggest feature of this cycle is — the latter arrives aggressively, with a scale far exceeding the previous cycle, and the two are gradually becoming highly correlated.

As a result, the funds within the market are being continuously depleted, and arbitrage opportunities are shrinking. When the profit margins to be exploited are about to run out, external funds begin to withdraw in an orderly manner, seeking the next more lucrative track.

In my opinion, the turning point is the emergence of events like Trump coin. Before that, traditional funds kept flowing in, but afterward, the inflow slowed significantly. This is no coincidence.

Honestly, if you only rely on internal circle funds to play, you wouldn't be able to sustain today’s scale. So everyone is both the one being harvested and also profiting from the growth of this system. This is the dilemma, but also an opportunity. $BTC $BNB

Looking at it from another angle — if Bitcoin always moves in one direction with the US stock market, maintaining a rigid positive correlation, do you still have the motivation to trade crypto?

When does true excess return appear? It’s the moment when you don’t follow during dips and don’t follow during rises, breaking away from the correlation.