From a macro perspective, the current thinking is still effective, and the results of the copycat are basically consistent with reality.

1. The logic of this round of play
-1 In terms of funds, we are in a rate-cutting cycle, but liquidity is insufficient, and it is unlikely to cut rates all the way. If inflation rebounds (pressured by Trump's tariffs), rate cuts may stop or even reverse, so rate cuts are unlikely to be smooth sailing. Therefore, insufficient liquidity is the norm for at least the next six months.
-2 In the market aspect, we are in a chaotic battle, with severe homogenization of various projects, but we do not see actual widely applicable business scenarios, completely in speculation. Therefore, with the added liquidity issues, various projects continue to decline. So this round of play must be value coins, not speculation, unlike before when you could just pick any coin and profit. Some coins that have halved will be difficult to recover costs within at least six months; this is not pouring cold water but an estimate under objective circumstances. Therefore, long-term players are best to restrain themselves, conduct serious research, and then invest, rather than fantasizing about getting rich overnight. Also, what is the cost of getting rich overnight?