#比特币对比代币化黄金 There's been a surreal phenomenon this year: US stocks returns are actually crushing the crypto market.

I have two accounts—my US stock account surged to 10 million, and my crypto side also netted 10 million in the past two months. Looks impressive on the surface, but honestly, the 2025 crypto market has really underperformed—Bitcoin is still down a few percentage points for the year, so value investors who held all year not only wasted their time but might even have lost principal.

But for pure traders, it's a completely different story. Wherever the market is highly volatile, that's where the goldmine is. The violent swings at the start of a bear market are the real window of opportunity; by the end of the bear market, even with 100x leverage, you can barely squeeze out a few points of profit—that's true despair.

Picking the right assets in a bear market is especially important. Shorting certain tokens is just too satisfying; although it's unpleasant to watch, I still hope they drop to triple digits to completely wash out all the restless money in the market.

One last thing for everyone: Never leave the game voluntarily. Only those who stay at the table are qualified to wait for a turnaround and to witness those unbelievable moments.