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As of February 4th, 9 AM, there are 24246 types of virtual currencies listed on global exchanges. However, whether it is Pow or Pos, there are less than 100 with technical architecture, and only 55 have liquidity (with a 24-hour trading volume reaching 100 million USD). The number of virtual currencies that are truly recognized by the public (both having technical value and liquidity) is actually less than 50.
Every day, about 30 new virtual currencies are issued, mainly including big names' endorsements, celebrity recommendations, narrative memes, expansion of old coins, novel hotspots, and ecological applications. Looking at the relatively representative coins issued in recent times:

The current cryptocurrency market is in a state of extreme schizophrenia. On one hand, BTC has fallen from a high of $126,000 to $75,000. Although it has stopped declining, it has not returned to $80,000, and market sentiment is unstable; on the other hand, institutions are accelerating their penetration into the infrastructure. Whether it's Cb's resolve or Tether's shell game for survival, essentially, they are betting on the same future: a compliant but castrated cryptocurrency market.
However, for investors in cryptocurrencies, the upcoming bear market must have a very clear logic. Don't expect the so-called 'regulatory dividends' to benefit retail investors. The regulatory logic in the beautiful country has evolved from 'regulation by enforcement' to 'regulation by strangulation.'

The cryptocurrency world, a high-leverage environment, often sees one moment in heaven and the next moment in hell. In this 'short, flat, and fast' era, the cryptocurrency world has completely overturned the 'worker logic' of the lower class, holding a fatal attraction for workers.

A smartphone, an internet connection, and a virtual currency trading platform are filled with motivational phrases like 'earn hundreds of U while lying down for a day' and 'easily achieve class transition', which constantly erode the values of workers.

In the traditional workplace, the principle of 'exchanging time for money' is an unshakeable rule, the promotion ladder is solidified by hierarchy, and income growth can never keep pace with inflation. In the cryptocurrency world, wealth accumulation no longer relies on the addition of repetitive labor but comes from the judgment of trends and the mastery of risks.

In recent days, leading virtual currencies have collectively suffered heavy losses. Under the overturned nest, how can there be intact eggs? Is it a struggle between bulls and bears, or a game between the market and policy?

Originally, the Federal Reserve had been rumored to cut interest rates or maintain them, leading most of the market to believe it would be positive news. However, Trump's nomination of Kevin Warsh as the next Federal Reserve Chairman, who maintains high interest rates and a hawkish approach to tightening liquidity, dealt a heavy blow to the market.
First, the virtual currency market experienced a flash crash, followed by a sweep through the gold, silver, and heavy metal industries, causing panic in the market. Capital institutions, heavily invested whales, and market speculators all rushed to sell their chips, resulting in weak buying pressure and a complete liquidity exhaustion, forming a vicious cycle of "decline >>> long positions being liquidated >>> further decline." Within 24 hours, the total liquidation amount across the network reached 3 billion USD, and as of now, the cryptocurrency market and gold and silver continue to decline, with the downward trend still not halted.