Talking with friends about the current market situation, I have a very counterintuitive feeling: despite a bunch of bearish macro signals, the Iran-U.S. war remains unresolved, Wosh testimony hints at hidden dangers, and Brent crude oil is quietly rising, it seems the secondary market has become more active. Why? Short squeeze is imminent because, right now, Crypto is entirely a "big bear" market:

1) After the technical narrative is discredited, the market that only focuses on PVP speculation and mutual cutting has no growth, isn't that a bear market?
2) Retail investors see holding as shameful, unwilling to hold any altcoins; with no value cloak left, only nihilistic scams remain—surely that’s a bear market?
3) When new tokens are listed on exchanges and pumped, they are generally regarded as market-making manipulations and harvesting, retail investors stubbornly play the "run fast" game with wild whales—aren't that also a bear market?
4) A once common hacker attack incident, finger-pointing, chaos, has fermented into the biggest faith crisis in DeFi history; even DeFi is no longer cool—doesn’t that mean a bear market?
5) Talented people in the crypto space are gradually leaving, leaving only treachery and scheming, old hands and idealists, looking at Crypto with no hope in their eyes—doesn’t that also indicate a bear market?
Note: Come to think of it, whether good or bad, when the market forms an unprecedented consensus, isn’t that precisely the beginning of a new reshuffle opportunity?