Recently, I was chatting with people in the industry, and everyone is complaining about this round of market conditions—sideways trading is a bit excessive, making people feel anxious. Thinking carefully, the reason behind this phenomenon is actually quite straightforward: hype is strong but confidence is weak. It looks lively on the surface, but in reality, there is a lack of genuine upward momentum.

I must say, many people are urging me to give a more optimistic forecast, hoping to hear statements like "the bull market is about to return." But I still have to say—be cautious. This is no longer the crazy growth era of 2021. The market now is playing with narratives like "structural recovery" and "super cycles," with a completely different rhythm. Don’t expect assets to double overnight; such ideas are too unrealistic.

However, there are indeed some signals worth paying attention to recently. The SEC has removed certain crypto assets from its priority risk list, which is seen by the industry as a positive policy signal, indicating a subtle shift in regulatory attitude.

Meanwhile, Elon Musk’s X platform plans to launch a feature called "Smart Cashtags" in the near future. This design is quite interesting—when users post codes like $BTC or $NVDA, the system will directly tag the corresponding stocks or crypto assets, even down to individual smart contract levels. Clicking on these tags will bring up related applications and data. This reflects X’s ambition to become a "super app" and also hints that the status of crypto assets on mainstream platforms is quietly rising.