There are two main lines driving the cryptocurrency market:

One main line is the endogenous narrative of the crypto world: currently in a process of fragmentation and reorganization, targeting VC, overvalued coins, and MEME fatigue, there isn't much significant driving force in sight;

The other main line is macroeconomic influence:

Good macro environment + strong endogenous narrative in the crypto world = bull market;

Good macro environment + no strong endogenous narrative in the crypto world = major coin bull, overall small bull;

Average macro environment + strong endogenous narrative in the crypto world = major coin stagnation, local bull in the crypto world;

Poor macro environment + no strong narrative in the crypto world = bear market. #金价走高