The current confidence in the crypto space compared to the last bull market peak is not stronger, but weaker. During the last BTC peak, there was plenty of innovation DeFi and NFTs were thriving overall. Now at the current BTC peak, innovation is dead It's all propped up by Wall Street capital allocating to BTC The overall vibe is lifeless. The worst part is, external innovation keeps emerging Mining farms are transitioning to data centers And funds keep flowing out.