#加密市场周期与情绪 Seeing the search popularity drop from 100 to 26, I have to honestly say—this is a true reflection of the crypto market cycle.

Retail interest decline is not the end; rather, it is a moment for us to think calmly. Remember the hot streak in January? Back then, everyone was eager to get in, but now the sentiment index is hovering around "extreme fear." But this is the essence of the cycle—during the peak, everyone chases after it; during the trough, it's the best time to clear your mind.

What truly matters? It's not the search volume numbers, but those who truly understand the value of Web3 and have never stopped building. DeFi liquidity mining, DAO governance experiments, NFT application innovations—these underlying innovations won't stop just because search popularity declines. In fact, this cooling-off period allows more serious builders to stand out.

The flash crash in October indeed poured cold water on people, but I want to say: market sentiment fluctuations and technological progress are not always synchronized. While retail investors are still debating short-term rises and falls, the infrastructure of decentralized finance is quietly becoming more mature and reliable.

When the next bull market arrives, those who persist in learning and carefully researching projects during the trough will go further than those blindly following the trend. The current silence is the best window for accumulating knowledge.