远山洞见

Is there still money in the market?
How come several hundred billion are thrown in and there's not even a sound?
The answer is that the money has come, and a lot of it, but it has all turned into bag holders...

1. In 2025, the market saw an influx of 308 billion dollars. This is much larger than the capital during the last bull market.

2. In 2024, it was "a little push can lead to a big effect"; entering with 10 billion could lift the market cap by 26 billion; in 2025, it is "a mud cow entering the sea"; entering with 308 billion, the market cap has instead shrunk.

3. Why isn't it rising? The selling pressure is too heavy. It is so heavy that even super buyers like MSTR can't turn the tide.

The current market is like a black hole, swallowing any liquidity that comes in with selling pressure.

In other words, before the selling pressure is exhausted, the ability to rise has temporarily been lost.

@币安广场 @币安中文社区 #易理华割肉清仓

This drop feels more painful than in 2022. Several conclusions can be drawn from the data.

1. The speed has increased by 4 times. On the 83rd day after breaking the 365-day moving average, it only dropped by 6% in 2022, whereas it has now dropped by 23%.

2. Refusing to 'slide down.' Compared to the past slow and painful declines, this time the selling pressure is concentrated and fierce. Extremely fragile, the support level is virtually nonexistent.

$BTC $ETH

As soon as the words were spoken, the market provided an answer.
👇
On the left is $DBR, and on the right is the Nasdaq. While everyone is shouting "crypto is dead" and flocking to the US stock market for safety, quality assets are quietly rallying.

DBR is the "cash cow" with real blood-making ability in the industry’s cross-chain infrastructure; the Nasdaq represents humanity's most advanced productivity and is my unwavering permanent investment base.

The two seem to be new and old, but there is only one logic: embrace quality assets.

I will continue to follow up on $DRB and share more thoughts and selections about the US stock market. Currently, in this market, only by holding truly valuable things can one sleep peacefully and rise confidently.

Recently, the most heard phrase is 'crypto is dead', including many friends around me who have started researching US stocks.

Gold broke through $5,250, BTC fell below $87K,
various projects have been crashing, rights protection has risen, and the screen is filled with voices saying 'the crypto space has no value'.

However, $DBR earned $24,239 yesterday (January 27).
Over 45% of the funds on Hyperliquid came through deBridge, and the official reserve already holds 4% of the total supply of DBR.

Yes, the projects that should be making money are still quietly making profits.
Crypto is not dead; it's the speculation without business support that has receded.
While everyone is shouting to switch to US stocks, the infrastructure is still quietly doing its job.

When looking at projects, don't just focus on K-lines, don't just look at KOL promotions, look at revenue and market share.
Memes can go to zero, but as long as multi-chain is still there, the demand for cross-chain liquidity will always exist.

Only projects with real income can withstand the bear market.

Currently, aside from cryptocurrencies and essential fiat currencies, I am dollar-cost averaging into the Nasdaq and S&P.

Embrace the top-tier productivity of humanity, and let the world's best CEOs and engineers work for us.

Then forget about candlestick charts, sleep well, and live well.

25 years of focus starting from #币安 Square, it has inadvertently synchronized and launched 313 pieces of quality content.

I have to say, the traffic at the square is indeed top-notch now, with individual articles having 10k-50k reads being the norm, and you can feel the official support for quality content.

As a high-frequency creator, I have 5 specific suggestions for the product team, hoping they can be arranged!

1️⃣ Suggest mirroring Zhihu's "Creation Assistant":

【Smart Layout】: One-click beautification, enhancing the reading experience
【Content Detection】: Reduce violations, lower revision costs
【Extract Lead】: AI-assisted summarization, improving distribution efficiency

2️⃣ Suggest adding two "essential" features:

【One-click Long Image Generation】: Convenient generation of beautiful long images for Twitter/community traffic, forming a closed loop.

【Article Collection/Column】: Package and display valuable content, allowing fans to read systematically, no longer swept away by the information flow.

A good content ecosystem requires strong infrastructure support. Hope it can be arranged!

@币安中文社区 @BinanceSquareCN

Dan Koe's long article is making waves again.
But I don't understand, is this just a self-help article?

Flowing like water, with a logical conclusion, reading it indeed creates a strong sense of "clarity", as if by following the "counter-vision" and "identity stripping", one could undergo a transformation next year.

But the feeling of clarity after reading is because he uses extremely hardcore academic vocabulary to reinterpret the common knowledge you already know.

I understand it as: "cognitive massage".

Take my advice: don't follow his Protocol for psychological exercises; instead, learn how he turns "trite sayings" into "timeless secrets" that generate traffic.

Even learning just 10% of this ability to elevate pain points is more useful than making a hundred New Year's resolutions.

In 2017, we knew that most ICOs would go to zero,
but this does not prevent many people from still making money through waves and narratives in 2026.

Many times, our skepticism about projects is correct,
but we miss out on several years of bubble dividends because we pursue 'correctness' too early.

Do not refuse the opportunities during the life span just because you predicted death.

Earlier, I discussed with a friend the differences between the U.S. stock market and China's A-share market.

He joked that ordinary people playing the U.S. market can't learn technical skills—only make money—while in the A-share market, it's exactly the opposite.

Though just a joke, upon closer reflection, it actually highlights the core challenge ordinary investors face in asset allocation.

Do you want to prove your 'skill' through high-difficulty maneuvers, driven by survivorship bias, or do you prefer to follow trends and gain certain wealth?

For the vast majority who must balance full-time jobs and lack professional financial backgrounds, the Nasdaq-100 and S&P 500 are not only the best choices, but possibly the only 'right answer'.

The logic behind U.S. stock indices is 'the strong get stronger'. A company that falls short in performance will be removed from the index once its market cap drops below the standard; meanwhile, emerging giants (like Tesla and NVIDIA in their early days) are automatically included when they rise.

The biggest risk for ordinary investors in the A-share market is clinging to outdated companies. You might buy a company that once thrived but is now declining, only to hold it for ten years without recovering your investment.

Investing in an index can be simply understood as hiring a fund manager without any emotional bias, who systematically executes 'keep the strong, drop the weak' every quarter. You don't need to understand technical analysis, because the index mechanism itself is the ultimate screening technology.

When my friend said one can 'learn skills' in the A-share market, it's actually ironic. In a market with extreme volatility and short bull runs followed by long bear markets, investors are forced to study candlestick patterns, gather rumors, and analyze institutional fund flows.

The core logic of the U.S. market, especially the Nasdaq-100 and S&P 500, is shareholder return-oriented.

Look at the top ten holdings of the Nasdaq-100 (Apple, Microsoft, NVIDIA, etc.)—they possess the widest moats and strongest cash flows globally. They boost stock prices through buybacks and reward shareholders via dividends.

By investing in them, you profit from the global productivity growth and technological advancement. This is a positive-sum game. In this game, you don't need 'skills'—you only need 'patience'.

The Nasdaq-100 and S&P 500 truly represent the world's most advanced requirements for productive development.

The relaxation of corporate cryptocurrency investment in South Korea has naturally triggered a positive reaction. However, in the short term, nothing significant may happen.

Corporate allocation of crypto assets is not like retail investors chasing low-cap coins; processes, approvals, and risk controls are all essential, and internal decision-making alone can take months. Don't expect capital inflows next week.

South Korea's financial regulators have ended the corporate crypto investment ban that started in 2017, allowing listed companies and professional investment institutions to allocate up to 5% of their investable assets to the top 20 cryptocurrencies by market capitalization.

Approximately 3,500 eligible entities could theoretically participate. Note that 'can' does not mean 'must'.

The real significance of this policy lies not in immediate buying pressure, but in regulatory compliance.

For the first time, crypto assets are explicitly permitted to appear on corporate balance sheets, marking a notable shift in Asia's regulatory landscape.

This means companies no longer need to operate in gray areas but can now hold crypto assets compliantly within financial, auditing, and disclosure frameworks.

The rule also effectively strengthens the compliant status of top-tier assets. The 'top 20 by market cap' restriction may seem lenient, but it essentially tells companies they can only invest in assets with sufficient liquidity and market maturity. This benefits BTC, ETH, BNB, SOL and other leading cryptocurrencies.

However, there are challenges. The 5% cap and the hard limit of 'top 20 by market cap' mean new institutional funds will be highly concentrated in top-tier assets.

For lower-ranked cryptocurrencies—those relying heavily on community sentiment and narrative-driven growth—this is actually a marginal disadvantage. With institutional funds entering, market concentration and the Matthew effect will only intensify.

Moreover, the timing of corporate capital will be much slower than market expectations. Unlike retail investors chasing trends or volatility, institutions tend to adopt a cautious, small-scale, long-term approach. If the market assumes corporate capital will act like retail investors—buying on news—this policy's immediate impact will likely be overestimated.

Thus, it's more of a slow-moving variable.