Looking at recent market discussions, there are quite a few retail investors collectively singing bearish. But from a different perspective, does this logic hold?

The essence of the crypto market is a capital game. Participants who hold large positions enter the market with the goal of making a profit — that's no secret. They have substantial funds, and the cost of smashing the market is real money flowing out.

Conversely, ask yourself: if retail investors could make money just by being bearish, how come these large fund holders are still doing well? Wealth transfer in the market always involves winners and losers. Can you collectively be bearish and earn more than the holders? Reality often proves otherwise.

The cryptocurrency market has no host; the rules are dictated by capital. Participants are all thinking about maximizing their own interests; no one is doing good deeds. Once you understand this, you'll see why the collective opinion isn't necessarily reliable.