The crypto world has changed in the past two years. On the surface, the hype hasn't diminished, but the threshold for making money has already shifted.

**Where does the current money come from?**

Wall Street funds have already entered the market on a large scale through Bitcoin ETFs, targeting long-term gains. The short-term dreams of buying today and selling tomorrow should have been awakened from long ago. Where are the real opportunities?

First, follow the rhythm of big capital. Institutional investors have long-term deployment cycles and deep strategies. Retail investors should either follow mainstream consensus or exit early.

Second, invest in projects with real utility. DePIN is still hot—buying equipment to share bandwidth and storage space can generate token rewards daily. This model is called "contribution mining," and it's not just hype. The combination of AI and blockchain is also heating up, with projects providing computing power and data becoming market favorites. The RWA (Real-World Asset) track is also expanding, mapping real assets (real estate, bonds) onto the chain. The risks are relatively controllable, making it especially suitable for conservative investors.

Third, old routines can still work, but gameplay has upgraded. Early participation in new projects and market-making on DEXs are still open, but the requirements for professionalism are increasing. Or simply put—hold Ethereum and Bitcoin, and earn stable income through staking. This approach might be more cost-effective than bank wealth management and more hassle-free.

**Why do some people still lose money in a bull market?**

There are still those chasing small coins and participating in unclear projects. The market has already evolved to the next stage, but some are still stuck in the previous era's tactics.

Psychological issues are also a major factor. Cutting losses at the slightest dip, chasing after every rise, always playing catch-up. Those betting their living expenses are the worst; a bigger dip can shatter their mindset, making it impossible to hold.

**What is the reality?**

The crypto space has always been a knowledge-intensive profit transfer—professionals earn from amateurs. But now, the scope of this rule is broader, and the threshold is higher.

If you want to continue to get a share of this market, a few points are crucial:

Use idle funds to experiment; don’t go all-in at once. Study new tracks and mechanisms, don’t just watch K-line charts. Forget about overnight riches; in this industry, the ones who get eliminated are never the poor, but the lazy and those lacking execution. Your diligence and learning ability are the ceiling of your earnings here.