After experiencing two rounds of bull runs in the crypto assets market, some seasoned investors have shown extraordinary confidence. Recently, the market has undergone a deep adjustment, triggering fear among many investors. Small-cap crypto assets, which just showed signs of recovery, were also hindered by the rise of Ether. This situation is actually the most typical phase in a bull run that easily leads to fluctuations in investor sentiment.

Currently, Bitcoin is consolidating in the range of $115,000 to $120,000, which is an important central oscillation zone where institutional investors and major funds are flipping and accumulating. Although the market seems calm on the surface, the changes in the capital flow have become very evident: each decline is accompanied by selling pressure, but at the same time, there are large funds actively absorbing, maintaining high-level oscillation. This indicates that market confidence still exists, and various capital is secretly competing.

September remains a critical turning point for the market. If the Federal Reserve officially begins its rate cut cycle, this will signify the confirmation of a new bull run for risk assets. The real main upward wave is expected to start in October, with a potential peak in mid-November.

Currently, Ethereum is making a compensatory rise, and trading volume has significantly increased, indicating that market funds are brewing a new rhythm. Although small-cap Crypto Assets have experienced a large pullback, this is the norm of a bull run — drastic fluctuations, repeated shakeouts, forcing investors to give up their positions. Now is the most difficult time, as investors face the dilemma of potentially missing the rise after selling, while fearing further declines if they do not sell. But only those investors who can persevere will truly profit from the long-term trend.

The strategies of some experienced investors remain consistent: to position at the bottom and keep their holdings unchanged. Currently, small-cap Crypto Assets are still in the high-level chip release phase, and the real main rise has not yet begun. August may be a window period for an early market, with speculation based on interest rate cut expectations potentially bringing a good short-term trading opportunity.

Some analysis suggests that Polkadot (DOT) and Filecoin (FIL) are two Crypto Assets worth paying attention to, not out of emotional factors, but based on their significant divergence between value and current price. Both projects have solid fundamentals but have been marginalized by the market due to prolonged sluggishness. These types of Crypto Assets may actually possess stronger explosive potential—once funds refocus, their market performance is often the strongest.

Overall, we are still in the final washout phase before the main upward wave of the bull run, which is a true test of investors' resolve. It is recommended to hold onto bottom chips and watch the changes. Once the market starts, the chips sold now may be difficult to buy back. During this critical period, it is essential to remain calm and patient.