Where have the Shanzhais gone?

① The number of Shanzhais hit a new high, and the number is so large that it is jaw-dropping.

② The proportion of Shanzhais has been on a downward trend since this year, and is now close to the lowest point of the bear market.

③ The overall narrative of Shanzhais is relatively backward, lacking killer application innovation.

④ The Shanzhai market as a whole has entered the stage of players fighting players. In Q4 of 2023, there was a general rise, in Q1 of 2024, there were more wins and fewer losses, and in Q2 of 2024, the liquidity was extremely scattered, with more losses and less wins.

In summary, the market has no money, and Shanzhais are too saturated, and they can't be pulled up at all. The overall liquidity is relatively poor, which is undoubtedly more difficult than the bull market in 2020. No interest rate cuts, no big bull market. #美联储何时降息？