Recently I heard an entrepreneur talk about the economy. He said: “Making money is now much harder than it used to be.”$ETH

This sentence also reflects many people’s real feelings in the crypto circle. Veteran players know that the market in 2017 is completely different from today. Back then, when the trend came, money poured in crazily. A 10% rise was ordinary, and a 30% rise only meant it had really kicked off. True “bull market” opportunities could even multiply by dozens or hundreds of times. But what about now? The market is getting more mature—and more ruthless.$BTC

The biggest problem isn’t the lack of opportunities; it’s the shortage of new capital. As pressure increases in the real economy, investors naturally become more cautious. A high-risk market like crypto needs a large amount of capital to drive it. Many people have kept expecting rate cuts to bring a bull market, but that expectation has been hyped and replayed for a long time. Real market cycles won’t be driven by just a single piece of news. Just look at today’s price action: a few days of rise, followed by a rapid drop that wipes out all the gains. This feels more like capital games than the start of a bull market. A true major bull run must strengthen the trend continuously—then after pullbacks, it keeps rising.$SNDK

Right now, the market also has another issue: there are more and more projects, but fewer and fewer people are willing to make long-term commitments. Without new capital entering, it’s hard to form sustained upward momentum. So this year, don’t fantasize about making money with your eyes closed. Manage your position size and go only for opportunities you understand. When the bull market comes, you need capital; when opportunities arise, you need the ability to seize them. Surviving matters more than anything.