#加密货币市场趋势 This topic has been getting a lot of attention lately. I think it's still hard to draw a definitive conclusion about whether the four-year cycle has failed. The market has indeed seen some new changes, such as the entry of ETFs and the participation of traditional financial institutions, which could disrupt the original cyclical patterns. However, fundamental factors like human nature and market sentiment haven't really changed, so cyclical fluctuations may still exist.

Personally, I tend to maintain a cautious and flexible attitude. On the one hand, it's important to pay attention to macroeconomic conditions and liquidity changes; on the other hand, it's also crucial to closely monitor the performance of leading assets like Bitcoin and Ethereum. There are risks in betting too heavily on any single view. At this stage, it may be more appropriate to adopt a dynamic balancing strategy and adjust positions promptly according to market changes. Regardless of whether the cycle has failed, risk control should always be the primary consideration.

For ordinary investors, I suggest allocating a certain proportion of Bitcoin as a long-term base position, while also keeping enough cash on hand to deal with possible volatility. Those new to the market should pay extra attention to risk management and avoid chasing highs or using leverage recklessly. The market is always changing, so it's important to maintain a mindset of learning and reflection.