#战略性加仓BTC $PEPE $ZEC $TAO The recent trend of these coins is becoming more and more similar to the stock market's temperament.

The US stock market in 2025 is a bit outrageous, with the S&P 500 hitting new highs, and various voices are saying "This time is really different." But Federal Reserve Chairman Powell's attitude has cooled down quite a bit recently, openly stating that stock prices have deviated from fundamentals.

The data is clear— the Shiller P/E ratio has surged to 40.74, not far from the 44.19 peak during the internet bubble in 2000. It looks very close. Historically, every time this level has been reached, the market entered a decline cycle afterward, with the worst drops approaching 90%.

This is not alarmist. In the 155 years of records, the Shiller P/E ratio has exceeded 30 only six times. Each of the first five times, the market entered a bear phase. Although the correction cycles usually last no more than 10 months, the psychological pressure during that period was enough to make many give up their holdings.

Of course, another data point is also worth noting—the average duration of previous bull markets is 3 years, much longer than bear markets. Even the most severe declines are eventually healed by time.

The key question is actually simpler: can your psychological resilience withstand this "dark moment"? Will 2026 really be a turning point? Powell's words, in a sense, have already sounded the alarm.