#比特币ETF The year 2025, the crypto market has been like a roller coaster—every policy from Trump has caused intense market swings, from FOMO celebrations to epic liquidations, from regulatory crackdowns to compliance breakthroughs. Every twist is reshaping my understanding of this industry.

What is the most exciting? The continued popularity of Bitcoin ETFs is no coincidence. What does this signify? It indicates that Wall Street is voting with real money, with institutional funds pouring in continuously. Crypto is no longer an "irresponsible" investment but an asset class recognized by the traditional financial system. From the change of SEC chair, the signing of the GENIUS Act, to executive orders allowing retirement accounts to invest in crypto... Behind these seemingly dull policies is a quiet paradigm shift—America is officially moving closer to the identity of a "crypto capital."

Although the crash on October 11 was brutal, setting a record for the highest single-day liquidation, it precisely shows that the market is maturing. Without painful reshuffling, there can be no true accumulation. Every liquidation cleanses out speculators, leaving believers.

Looking back at 2025, my deepest feeling is: the future of decentralization is no longer just a slogan but a reality happening now. Those seemingly chaotic fluctuations are actually the growing pains of this new world taking root. The best times are often right when we grit our teeth and persevere.