#加密市场周期与长期趋势 VanEck's latest insights have given me a lot of inspiration, and we can extract some practical information from them.

The current decline in BTC might be controlled within around 40%, and the market has already digested 35%, indicating that the bottom range is relatively clear. More importantly, it is expected that by 2026, the market will enter a consolidation phase rather than a sharp rise or crash. This is actually a good signal for us yield farmers—periods of stability mean that project teams will be more actively launching interactive tasks to maintain interest.

Although on-chain activity is still relatively weak now, it has already started to improve, which means the launch of new projects will gradually increase. VanEck's recommended dollar-cost averaging strategy also provides guidance: increase holdings during leverage liquidations, and reduce holdings when speculation is overheated.

For us, the key is to seize this relatively stable cycle and prepare. While project teams are still accumulating users, participate in all airdrops and interactive activities to build address credibility. The consolidation year means opportunities are found in the details—don't just focus on stories of rapid gains. Instead, focus on projects that are steadily progressing and have high interactive demand. This is the correct attitude for riding through a full cycle.