According to Coinglass data, the daily trading volume peak in the crypto market in March 2024 and November 2024 is around 600 billion dollars, which is comparable to the level seen at the peak of the bull run in November 2021. In other words, the maximum purchasing power of the market has not risen over the past four years. A long-term rise dilemma in the market usually indicates that the phase of large-scale funding entry has ended (the demographic welfare period has passed).

Of course, mature markets are not without speculative opportunities, just like when tech giants lead the way in the US stock market, speculative targets like GME and AMC will also emerge. Therefore, as BTC, ETH, SOL, XRP enter a slow bull market, the speculation on themes like MEME and AI will continue. But it is certain that structural trends will become the long-term main theme of the market. #BTC