Bitcoin is once again hovering around the 90,000 mark, with many people already calling for a price of 100,000 USD. Every time the market warms up, the scene blooms with various new projects launching in clusters, raising hundreds of millions in funding, and whitepapers being hyped beyond the sky. But the reality is cruel: a bull market is not a gold rush, but a sieve.

I have seen too many cases, and the ones that suffer the worst are not those who miss out, but those who buy in the wrong direction. As an industry saying goes: whether an asset is valuable depends on whether the market has truly validated it. Why can Bitcoin withstand repeated bull and bear cycles? Because over more than a decade, countless cycles have proven its value logic to be self-consistent. In contrast, many new tokens, at the moment of launch, are at their brightest, only to face endless declines afterward. The founding teams may not even have a clear long-term plan for these assets.

So instead of staring at K-line charts and dreaming of overnight riches, it’s better to focus on identifying assets with real fundamentals, the ability to cross cycles, and even generate continuous cash flow during market conditions. This is what long-term thinking is about. That’s also why more and more people are paying attention to underlying infrastructure like liquidity staking.

Think about it: no matter how the market moves, there are always two unchanging demands. One is the pursuit of asset appreciation, and the other is risk mitigation. Clever design can address both at the same time.

Take liquidity staking and decentralized stablecoin protocols as examples. Their core logic is essentially building high-end financial instruments in the crypto space. You deposit assets like BNB, ETH, which are more volatile, participate in staking to earn yields, and simultaneously generate stablecoins to improve capital efficiency. Double gains, hitting two birds with one stone.

What makes this design clever is that it doesn’t force users to choose between "yield" and "stability," but finds a balance point where both needs can coexist. For conservative investors, the stablecoin portion provides a safe harbor; for aggressive investors, the staking yields are attractive enough.

Opportunities in a bull market often hide in these seemingly ordinary foundational protocols because they address real, existing needs rather than being sustained by stories and hype. My simple advice: when choosing tokens, ask yourself whether this project has been truly tested by the market, and whether its logic can stand through multiple cycles. Do this well, and the rest is just patience.