Day 1 of SG TOKEN2049, and the crypto market is already dropping . Brent crude oil is back above $100, long-term interest rates are still shockingly high—10-year U.S. Treasury yields around 5.3%, 30-year close to 5.7%. In the latest trading session, spot BTC ETFs saw a net outflow of about $90 million. High oil prices, high interest rates, and insufficient incremental funds mean the market is likely to keep grinding. For now, there’s no solid foundation for a full-blown bull market, and breaking even on $95,000-cost BTC still feels like a distant dream. This kind of market really highlights the strengths and weaknesses of altcoins. Sticking to half-position spot holdings for now and leaving the rest to time.