Under the changing market landscape, how should the coins in your hands make decisions? The key lies in understanding the current market pattern.

Dollar-denominated currencies are experiencing a new "review period." Any currencies that are difficult to integrate into the mainstream market system face sharply increased risks during this adjustment. Although there may be a rebound in short positions in January, that is merely a technical correction and far from a genuine bullish signal.

This bear market is different from previous ones. The cycle length is unpredictable, and a delisting wave will follow. At this stage, the project's technology or application itself is no longer the core screening criterion. To put it plainly, now it's a contest of who has stronger "compliance" and who can gain recognition from the mainstream market discourse.

Focus on the performance of two types of currencies: first, dollar-denominated currencies with high recognition in the mainstream market; second, China concept coins that are regionally representative. The former relies on a system, with a higher survival probability; the latter faces more structural market challenges. Currencies that are difficult to be incorporated into the mainstream market framework have little chance of surviving this adjustment.

The bottom line is simple: the market will淘汰掉 those projects that lack mainstream recognition.