I recently saw someone discussing whether the financial market is a zero-sum game, and I think this question isn't quite precise enough. It's true that some say winners and losers are opposite, but the key isn't in the market itself—it's in how you participate. Let's start with short-term trading. If you're trading futures, options, or other leveraged instruments, or frequently entering and exiting for short-term gains, then yes, that's a typical zero-sum game. When one person makes money, another loses money. No new value is created; it's just capital flowing between different people. Look at those who get liquidated—their money directly goes into the pockets of the profit takers. In this game, the more participants there are, especially those driven by FOMO, the more it benefits a small few. But long-term investing is completely different. I often see people buying Bitcoin or other assets with real value and holding them long-term. In this case, the market is no longer a zero-sum game. Why? Because the assets themselves are appreciating. Take BTC as an example: when I buy and hold, its value grows over time. This growth comes from several factors—currency expansion, increasing adoption of cryptocurrencies, infrastructure and application development. The most interesting part is that if I later sell BTC to someone else, and it continues to rise, the buyer profits too. I profit as well. The next holder can also benefit. It’s like a chain—everyone can win together. Some data clearly illustrates this—over the past 16 years, anyone who has held Bitcoin for more than 4 years has never lost money. 100% of holders have made a profit. This simply can't happen in a zero-sum market. So, fundamentally, short-term trading involves dividing a fixed pie, while long-term investing is about waiting for the pie to grow. Both approaches exist, but their nature is completely different. My view is that in the coming years, the crypto market will undergo a significant transformation. Once governments establish legal frameworks, this market will no longer be characterized by four-year cycles of volatility but will enter a super-long-term development phase, eventually saturating like traditional stock markets. Now is the time to leverage informational advantages and position yourself early. The key is to understand what game you're playing. Are you fighting in the short-term market, or betting on long-term assets? Choosing differently will lead to completely different outcomes.

Just caught something interesting from BlackRock's digital assets head Robert Mitchnick - apparently 90% of Bitcoin ETF holders are actually accumulating on dips rather than panic selling. And here's the kicker, Mitchnick mentioned that institutional players are quietly buying too, which honestly tracks with what we've been seeing on chain. Yet somehow BTC is still hovering around 69.7K, which feels like this accumulation hasn't fully priced in yet. Makes you wonder if we're looking at a classic setup where smart money is loading up before the next move. Robert Mitchnick's observation suggests the real buyers aren't done yet.

#btc is really coming 1. The weekend's BTC closed again, and on Monday morning it didn't break below. Instead, it bounced back—this means the market is still ranging and you shouldn't look to go short. But today, with this rebound, the market has become especially quiet, because most retail traders have ground down their patience. 2. Now, #eth is again standing at the 2150 level. This level always brings a different kind of move each time. When the market rebounds, #BTC is stronger than #BTC , but when it pulls back, #ETH is weaker than $GT . So the whole market is basically watching two places that move out differently from each other. 3. Once the rebound is confirmed to break upward, will see a big rebound. Because the bottom has been consolidating for a while, but now the market is either cleaning out exits, or people have already entered early. And there is also a portion that continues to watch from the sidelines—only the smart money is persisting.