#ETH巨鲸增持 Recently, the market has been plunging up and down, and my DMs are filled with the same question: "Is the bull market over?"

There are three times more people asking this than those who genuinely want to learn how to operate.

I know this kind of anxiety all too well. Back in 2008, when I first encountered this kind of market, I was just like this—yelling "take off" in the group one day, and the next day wondering if I should liquidate everything to save myself.

Later, I finally understood one thing: a real bull market never draws a parabolic line for you to win comfortably while lying down. It’s more like shaking people off—shaking out everyone who can’t hold on, then continuing to rise as it should.

Last week, a friend who’s followed me for three years suddenly messaged: "Bro, is this wave about to crash?"

I replied directly: The real danger isn’t that big red candle on the chart, it’s that “fear of loss” thought in your head.

On the contrary, I think the show isn’t over yet.

Why do I say that? Because I’ve seen at least five rounds of these "fake crashes." On the surface, it looks like a bloodbath, but funds are quietly building positions underneath.

Go check the macro data—quantitative tightening is about to hit the brakes, market liquidity is loosening up. On the regulatory side, last year’s issues are long gone, and most of the uncertainty in the whole sector has been cleared. Looking at traditional markets, gold is starting to weaken, which means risk-off sentiment is fading and the springtime for risk assets is coming again.

The most interesting are the institutions.

You think they’re on the sidelines? Wrong—they’re buying CALLs like crazy at the end of sessions. This isn’t retail guessing, it’s real on-chain and options data.

As for retail investors? They go all-in when it’s up, and panic sell when it’s down. In a bull market, the deadliest thing isn’t a market reversal, it’s you confusing yourself.

I often tell people: the bull market doesn’t reward the impulsive, it only rewards those who can sit tight.

Want to double your money? Don’t let your positions ride a rollercoaster every day.

Want to make money? Don’t go all-in and gamble every chance you get.

I know a lot of people are unsettled right now, and may not really believe what I’m saying. But that’s normal—I’ve fallen into the same traps you’re facing right now.

The difference is, back then I was feeling my way in the dark, but now the light is in my hands.

The light is always on—it’s up to you whether you follow.

$ETH