ETH, XRP, and SOL are soaring, but I just want to ask: is this a "system bull"? Or a "retail investor harvesting station"? The crypto market has been crazy these past few days, like it's on steroids: 🔺 XRP broke through the 2018 high 🔺 ETH surged 20% in a week, nearing $3600 🔺 Solana rose 11.4% this week, approaching $175, with technical indicators blooming 🔺 The crypto market cap reached $3.86 trillion, just a step away from the historic $4T But seeing these gains, I'm not too excited; instead, I'm calmer: This is not a victory for DeFi; this is Wall Street starting to go on-chain. ———— Is it regulatory good news? Or institutional control? We are in the so-called "Crypto Week": The U.S. Congress passed three key bills, directly bringing the crypto market into the mainstream: ✅ GENIUS Act: Paving the way for stablecoins ✅ CLARITY Act: Defining asset attributes (security or commodity) ✅ Prohibiting the Federal Reserve from issuing CBDC (against digital currency tyranny) At the same time, BlackRock submitted a staking yield application for an ETH ETF—Is Wall Street going to earn interest from ETH? The market sees these as "regulatory dividends," and thus it surged. But we need to ask clearly: Is this really "regulatory clarity"? Or has Wall Street crafted a story for you to buy into? ———— Is it a speculative resurgence? Structural danger signals still exist From a technical perspective: ◾️ ETH RSI is nearing 70, indicating overheating ◾️ SOL MACD has a golden cross, but trading volume is volatile ◾️ XRP has already seen some high-level volume Technical analysts know one thing: when everyone thinks it will rise, it’s likely to fall. This surge feels like a pre-scripted play: First legislation ➜ Positive news from institutions ➜ Technical breakout ➜ Retail investors rush in ➜ Those who run slow, take the last baton Don't forget the rhythm before the crash in 2022 was laid out just like this. ———— Is the crypto world becoming "institutionally mature"? Or returning to a "gamblers' paradise"? The current market is indeed different from 2021. Before, it was Dogecoin and SHIBA flying high, with everyone believing in memes to reach the moon; Now it's ETH ETF, Ripple lawsuits, and Congress Acts supporting the scene, relying on regulations and Wall Street's whispers. But can you see it? ◾️ We are moving from "bubble-style freedom" to "regulatory-style manipulation" ◾️ What you are investing in is no longer just the coins themselves, but a dual expectation of politics and finance ◾️ The real gambling table has moved behind Wall Street, while we are still playing with candlestick fantasies ———— To summarize my views: 📌 In the short term, it’s a typical institutional expectation driving the market, not pure retail frenzy 📌 The technicals do show signs of a bubble; I do not recommend chasing highs 📌 Regulation is incorporating Crypto into "derivative businesses of traditional finance," and decentralization is shrinking 📌 Retail investors must either learn to understand institutional games or continue to see the script of "what goes up too much will go to zero" repeat itself.