During the period of major turnover, the current cryptocurrency market (mainly referring to the Big Dipper and Ethereum) gives me the feeling of a game of two forces: 1) traditional finance, represented by ETFs and listed company purchases, is driven by more solid asset attributes to increase purchasing power (which can be called buyers); 2) Profit selling pressure from long-term or even ultra long term holders on the chain (can be referred to as sellers). The price fluctuations and ups and downs in the market are largely due to the game between these two forces. The combination of industrial policies, favorable economic conditions, inflation expectations, and interest rate cuts has driven the entry of buyer funds; Once the price reaches a high point, it will naturally trigger many ancient investors' long-term holders to cash in profits. This is essentially a long-term, silent large-scale turnover! 1) In the short term, the strength of the economy, inflation trends, and interest rate expectations will all affect the inflow speed of buyer funds. Expected good flow rates will accelerate, while expected poor flow rates will stop or even reverse flow; 2) In the medium to long term, we need to consider whether asset attributes are more solid (such as the digital gold attribute of the pancake, the value storage attribute of the money supply to combat deficit fiscal expansion), and where the process of large-scale adoption (brought about by ETFs, various micro strategies, and future pension/sovereign funds) has reached. How to view this game depends on which side your butt is sitting on? From the buyer's perspective, the large-scale procurement process may only be in its early stages.