500k-3m First Consensus Established 📈 Market Opening Expected alpha Book Wash Consensus Collapse 1.5m-3m Repeated Fluctuation and Doubt Period 🤔 A small portion of consensus exists but not much, Holding positions and observing, Chaos in the market 3m-20m Second Consensus Established 📈 Expected alpha Sentiment Soars, A small number of retail investors enter the market 20m-8m alpha Expectations Land and Sell-off 😃💔 Confidence Period/Disappointment Period, Watching those who sold alpha, Stop-loss for those who chased high prices, Mixed feelings 8m-25m Contract Launch Exceeds Expectations 😧😌 Short sellers enter, Clearing positions of those who chased high alpha for safety 20-27m Repeated Fluctuation, Clearing Leverage 😡 The third wave of consensus has not yet been established ❓