Recently, a fascinating phenomenon has emerged in the market: the Federal Reserve has started to cut interest rates, but the market hasn't risen—in fact, it continues to weaken. Sounds contradictory, right? But this actually reveals a deeper truth—the market's trading is never about reality, but about expectations.

Understanding it this way makes it clear: once the positive effects of rate cuts are fully priced in, the driving force behind the market's movement dissipates. If new negative factors then appear, the market naturally pulls back. It's like the market has already told the story in advance; with no new developments, investors have no reason to chase higher.

From another perspective, this divergence is like the market doing a "health check." It filters—which projects and narratives are sustained only by loose liquidity, and which ones have real underlying strength. This actually presents an opportunity for teams focused on tangible results. While everyone worries about macro concerns, projects that can deliver concrete achievements stand out.

For example, projects like Max, whose core competitiveness isn't about macro liquidity, but about offline promotion effectiveness, user growth data, and real charitable implementations. These things won't change because of the Federal Reserve's decisions. Even in a bearish market sentiment, genuine community actions and verifiable operational results become anchors of investor confidence. Max's ability to bring real users to GiggleAcademy, and this complementary ecosystem construction, is the foundation for long-term sustainability.