Everyone used to think the bull market was on exchanges, but it turned out to be on-chain; Now everyone thinks the bull market is still on-chain, but it’s actually back on exchanges. Recent strategic mistake: kept focusing on on-chain activity, only started paying attention to Binance alpha in the past few days Woke up that day, checked the market, remembered Zhuan Guochuanmu’s perspective, and finally started researching. Last night’s FOMC meeting set the tone: high probability of a total 75bps rate cut this year, split into 2-3 rounds. Q4 market is definitely looking good. Need to shift my mindset moving forward—alpha, new coins with strong founding teams, and impressive fundraising efforts all deserve attention.