#数字货币领域调整# The Crypto Assets market is experiencing a crisis of confidence that surpasses the Bear Market. Both Mainstream Tokens and small coins have fallen below historical Bear Market lows, leading to a severe market slump, with even the discussion heat dropping to freezing point. Investment funds are like a desolate beach after the tide recedes, and market operators have also ceased their usual active operations, falling into a state of silence—no one is willing to enter the market to catch a falling knife, and thus there is no power to pump prices up, creating a difficult-to-break negative cycle.

What makes it even trickier is that market participants are still repeating ineffective coping strategies. They are busy accumulating Bitcoin as a facade, issuing stablecoins to create concepts, launching platform coins to build so-called ecosystems, and introducing new coins to attract attention—mistaking means for the goal itself, while neglecting the core foundation of all trading models: the activity level and profitability potential of the secondary market. It's like running a restaurant; no matter how luxurious the decor or exquisite the dishes, if there are no customers visiting and no one praising the flavors, it will ultimately be difficult to escape the fate of closing down.

Even if the halo of Bitcoin still shines brightly, it cannot warm a market frozen in ice. The confidence of retail investors has never been the exclusive property of a single project, but rather a common understanding of the market accumulated through countless successful profit experiences. Once this consensus foundation collapses, the so-called value support points and future development plans will easily burst like bubbles. In the field of crypto assets, when the hope of profit disappears entirely, even the most brilliant project narratives will only become a monologue that no one listens to.