比特幣是這個市場上更安全，更聰明的賭注

在過去10天左右的疲憊之中，可以理解的是，許多最活躍的加密貨幣市場參與者的情緒如何

After a whirlwind 10 days of meme coin pumps, dramatic price swings, and sentiment whiplash, it’s easy to see why most crypto market participants are feeling exhausted. Coming off of this and gauging sentiment from many of the most active crypto market participants (as gauged through Crypto Twitter, the beating heart of the industry), it seems that many are more bearish than bullish. This is understandable given the recent price action, but I believe it’s the wrong take.

經過旋風10天的模因泵，戲劇性的價格波動和情緒鞭打之後，很容易看出為什麼大多數加密市場參與者感到精疲力盡。從此開始，並衡量了許多最活躍的加密貨幣市場參與者（通過Crypto Twitter（行業跳動的心臟）進行了評估），看來許多人比看跌比看跌。考慮到最近的價格行動，這是可以理解的，但我認為這是錯誤的。

I felt this was true, but it’s reassuring when crypto OG’s like DonAlt post about it, reminding people of the evergreen advice of zooming out.

我覺得這是真的，但是當Crypto Og像Donalt Post一樣，令人放心，這使人們想起了常綠的縮小建議。

That is a good looking chart.

那是一個好看的圖表。

On this week’s Token Narratives, Graham also reminded everyone that the preponderance of crypto news is bullish. The SEC repealed SAB 121, opening up the ability for traditional financial institutions to custody cryptoassets which will incentivize them to offer crypto services to their customers. Deepseek triggered U.S. stock markets to sell off sharply, but bitcoin held up very well. From a low of around $98,000 on Monday, bitcoin is back up to $104,500 as of this writing. It’s like the move down never happened.

在本週的代幣敘事中，格雷厄姆還提醒所有人，加密新聞的優勢是看漲的。 SEC廢除了SAB 121，開闢了傳統金融機構的監護權加密貨物的能力，這將激勵他們為客戶提供加密服務。 DeepSeek觸發了美國股票市場急劇出售，但比特幣保持良好狀態。截至撰寫本文時，比特幣從周一的低至98,000美元的低點回到了104,500美元。就像下降從未發生過。

Donald Trump’s media company, Trump Media, is launching Truth.fi with up to “$250 million for investments in bitcoin, other cryptocurrencies, crypto-related securities, ETFs, and industries supporting U.S. economic growth.” Even if you’re not bullish, it’d be unwise to short the sitting president of the United States’ asset positions!

唐納德·特朗普（Donald Trump）的媒體公司特朗普媒體（Trump Media）正在推出Truth.fi，“ FI，“ 2.5億美元用於對比特幣，其他加密貨幣，與加密相關的證券，ETF和工業的投資，支持美國經濟增長”。即使您不是看好的，也不願意擔任美國資產頭寸的現任總統！

Those wishing a reprieve from meme coin mania after Trump and Melania coin madness last week, were disappointed. A new meme coin meta started based off of Silicon Valley founders launching coins tenuously connected to companies they started. VINE, launched via Pump.fun on Jan 23 by co-founder Rus Yusupov, touched a $500 million market cap on the first day, and appears to already be down only as of Jan 31. On Jan 30, the co-founder of Venmo, Iqram Magdon-Ismail, launched a memecoin called JELLYJELLY, which touched $250 million market cap on the first day. It’s been down only since then. I’d bet this is a passing fad that no one will be talking about in 2 to 4 weeks.

那些希望在上週特朗普和梅拉尼亞硬幣瘋狂之後受到模因硬幣躁狂症的緩刑的人感到失望。一個新的模因硬幣元基於矽谷創始人的創始人開始，該硬幣與他們創辦的公司緊密相連。 Vine於1月23日由聯合創始人Rus Yusupov於1月23日通過Pump.Fun推出，在第一天達到了5億美元的市值，並且似乎已經截至1月31日。 ，Iqram Magdon-Ismail推出了一個名為Jellyjelly的Memecoin，在第一天達到了2.5億美元的市值。從那時起就一直倒閉。我敢打賭，這是一種傳遞的時尚，在2到4週內沒人會談論。

This kind of hyper fast meme coin meta where a coin is pumped to dizzying heights in a matter of hours before tanking into oblivion is an exhausting environment to operate. At the very least, even if you choose not to participate, you must fight the FOMO urge while social media is inundated with overnight rags to riches stories.

這種超級快速的模因硬幣元元，在幾個小時內將硬幣泵送到令人眼花hight亂的高度，然後才能運行疲憊的環境。至少，即使您選擇不參加，您也必須與Fomo的衝動作鬥爭，而社交媒體被一夜之間淹沒在富裕的故事中。

If you do partake, it requires shunning the rest of your life to stay online, constantly checking Discord, Telegram, and X for the latest info. Any gleaned info must be rigorously checked for rug potential, but too much time cannot be spent lest your time-edge wastes away. Assuming you catch an earlier winner, you have the agonizing task of deciding when to exit. I feel stressed just writing this out.

如果您參與其中，則需要避開餘生才能保持在線，不斷檢查Discord，Telegram和X以獲取最新信息。任何收集的信息都必須嚴格檢查地毯潛力，但不能花費太多時間，以免您的時間到處浪費。假設您抓住了較早的贏家，則必須決定何時退出。我感到壓力很大。

For people who wish to avoid this, or cannot make such commitments (basically anyone who is not a Zoomer), I’d stay clear of what meme coins are turning into. Bitcoin is a set-and-forget trade that lets you get exposure to this burgeoning industry but without all the unhealthy head and heartaches. Hodl and touch grass. Lovely!

對於希望避免這種情況或不能做出這樣的承諾的人（基本上是任何不是放大器的人），我會避免避免使用Meme Coins變成什麼。比特幣是一種設定的貿易，使您可以接觸到這個新興的行業，但沒有所有不健康的頭和心痛。 hodl並觸摸草。迷人的！