It's worth a look, let me summarize:

1. From the bear market to today, only 8 coins have increased more than BTC. It is extremely difficult to select these 8 coins.

2. So far, there is no new trend-setting narrative, and the number of views on YouTube is far from enough.

3. The explosion of new coins listed has diluted the market share. The number of new coins listed in May alone is twice the total of the past few years. It is extremely difficult to achieve a general increase.

4. Predicting the future, the cottage season will still come, possibly earlier than October 2025, but not all coins will rise.

This may be an atypical bull market pre-market for the currency circle, but for large A players, this is too familiar. IPO issuance is rampant, listing is high and locked in high valuations, structural bull market funds rotate, and there is no incremental funds. Is it a familiar formula?