The current BTC, US stocks, and precious metals can actually be easily understood through last year's on-chain meme bubble. Gold has indeed soared, and the core narrative for the rise of major assets is "global de-dollarization." The liquidity of gold has indeed overflowed, spilling over into silver, platinum, palladium, aluminum, and copper. US stocks have also risen relatively, with the core narrative being "the AI supercycle and continuous technological & product breakthroughs." Funds have indeed overflowed, spilling over into energy and storage. Currently, the pricing power of BTC is in the hands of the US, which neither fits into the narrative of "de-dollarization" nor has anything to do with the AI bubble (in fact, it conflicts with the AI narrative because it competes for energy and computing power). If precious metals are the SOL political meme, and US stocks are the SOL AI meme, then BTC is the ETH meme. Looking back, do you think it was a good investment choice to ambush the ETH meme when the SOL meme was accelerating at the end of last year, expecting the liquidity overflow from SOL to drive up the ETH meme? Friends who have been through the trenches should have learned this lesson: if you're going to chase, chase Dragon One. When Dragon One accelerates the most, Dragon Two should remain still; if you wait for Dragon One to start retracting, Dragon Two will be crushed.