Since the beginning of the year, the cryptocurrency market has undergone significant changes. Although many anticipated the arrival of the so-called 'altcoin season', the reality has been quite different. Six months have passed, and instead of the expected prosperity, the market has fallen into a series of crises.

We have witnessed the collapse of several encryption currency projects, resulting in significant losses for investors. At the same time, regulatory pressure is constantly increasing, leading some trading platforms to delist certain altcoins. These developments stand in stark contrast to the optimistic expectations at the beginning of the year, prompting one to reflect on the accuracy of market predictions.

It is worth noting that mainstream cryptocurrencies such as Bitcoin also face liquidity issues, which further exacerbates market uncertainty. Meanwhile, there has been a phenomenon of large holders accumulating in the Ethereum ecosystem, which may suggest that some investors still maintain confidence in the long-term outlook.

The direction of U.S. financial policy, especially the choice of the Federal Reserve Chairman, will also have a significant impact on the cryptocurrency market. This reminds us that although cryptocurrencies pursue decentralization, they are still closely related to the global macroeconomic environment.

Looking back at the market performance over the past six months, we have observed the vulnerability and complexity of the cryptocurrency ecosystem. For investors, this is an important learning moment, reminding us to be more cautious and to always pay attention to market trends and the global economic situation.