The S&P and Nasdaq have both reached a historic high of 249 years, but BTC has not followed suit to break new highs. It was previously mentioned that replacing BTC with Google or GGLL (double long Google) could outperform by 10-20%, but the portfolio's risk resistance is stronger. In the future, altcoins will not create significant market volatility, which is a notable characteristic; their market capitalization is merely a result of capital manipulation. By observing the development of the US stock market, one can anticipate how the future market will behave. The Russell small-cap stocks in the US have long underperformed the S&P, exhibiting high volatility, low price-to-earnings ratios, and low growth, resulting in a poor risk-reward ratio. Next, it will also be difficult for VCs to invest in any major projects. The innovations and capital operation models that have emerged in this round, such as SOL and Sui, are akin to the growing Nasdaq, characterized by high volatility but strong long-term growth potential. Additionally, DeFi projects with clear profitability like UNI, AAVE, and CRV are more like the S&P, being stable and offering higher long-term returns.