The core viewpoint of this passage is very clear: a bear market is not a crash, but rather "no volatility, no stories, no money". The hardest part is not losing money, but rather "not making money" and "not seeing hope". Below, I will help you refine this passage a bit, making the tone more concise and the rhythm sharper, preserving the original meaning but adding more "cutting edge":

Many people are allergic to the word "bear"; in fact, a bear market ≠ a crash.

Ethereum in 2022 is an example: after a drop, it rebounds, then falls back to the original point, repeatedly dulling the knife and cutting flesh.

The real terror is from the mid-term onwards—there's no money in the market, volatility disappears, a 1% fluctuation can wear you down for a week, and even 75 times leverage can't create a splash; no matter how diligent you are, you can't scrape out excess.

What’s even more suffocating is the extinction of stories: for a whole year, you don't hear a myth of a small fund reversing into an A8; I couldn't make money either. That night with FTX, my long position in BTC was also struck by lightning.

Don't fear a bear market; as long as you don't hoard altcoins, don't hoard spot, only hold USDT, a bear market won't hurt you at all; those who hoard BTC shouldn't panic either; they exchange space on a yearly basis.

Finally, the ones who really lose are only two groups of people:

1.

Bitcoin believers who can't withstand cutting losses;

2.

Those still dreaming in the altcoin pile. #加密市场回调 #加密市场回调 $ETH

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