#密码资产动态追踪 Why are people still losing money in a bull market? That’s a good question because the answer hits hard.

The rules of the crypto market have been completely rewritten. The era of "buy any coin and just hold to earn" has long ended. So what does the current market look like? Institutional, professional, and complex—Wall Street funds have already positioned themselves through ETFs, playing the long-term value investment logic rather than short-term arbitrage.

What are you still doing? Buying today and selling tomorrow? Sorry, this approach is no longer popular. Retail investors' positions in this game are quietly shifting. If you still use old strategies, the outcome will be hard to be optimistic about.

**Major reshuffle of capital structure, retail investors’ situation is changing**

Institutional entry has changed everything. Their goal isn’t intraday volatility but returns over the entire cycle. While you’re still messing around with short-term trades, big funds are already advancing the market at their own pace. This isn’t to say retail investors have no chance, but the way opportunities are presented is changing.

**Only a few tracks can truly make money**

Look at where the current market hotspots are—

DePIN projects: Users contribute bandwidth, storage, and computing power directly generating revenue. This is real value creation, not just air. As infrastructure development progresses, these projects are attracting significant capital attention.

AI and blockchain integration: Blockchain projects providing computing power, data, and model support for AI have become the hottest trend. This isn’t hype; real technological needs are transforming into market opportunities.

RWA (Real-World Asset on-chain): Mapping real-world assets onto the chain with clear revenue models and relatively controllable risks. Because of transparent logic, this track is becoming the first choice for traditional big capital entering the space.

**Old strategies still work, but costs have increased**

Grabbing projects, participating in DeFi, early-stage sniping—these opportunities haven’t disappeared. But what’s needed now? Professionalism. Without genuine research ability and risk awareness, entering just means giving away money. Instead of blindly jumping into these, consider more stable methods—like directly holding BTC/ETH and participating in staking. The yields are stable yet substantial, more attractive than many traditional financial products.

**Why do some still lose money in a bull market? Summarized in three points**

First, choosing the wrong tracks. Still chasing projects without solid fundamentals; the market has evolved to version 3.0, and this approach should have been phased out long ago.

Second, chaotic operation rhythm. Selling everything in a dip, chasing highs in a rally, always a step late, ending up as the "bag holder." Market volatility is meant to punish this mindset.

Third, poor capital management. Putting living expenses and rent all into the game, panicking at a 10% dip, becoming aggressive at a 10% rise. This mentality guarantees a loss in the end.

**The essence of the crypto market hasn’t changed; professional advantage always exists**

The reality in crypto is: professionals make money while amateurs lose. No one can break this rule. The only thing you can change is yourself—deeply understanding the logic of the tracks, controlling risks, and keeping up with market rhythm. If you don’t want to be painfully educated by the market, start by improving yourself.