#PI One important reason many people view the slow bull is that they believe there are institutions as accomplices supporting it and preventing a fall. However, I want to say that we shouldn't overly mythologize these institutions.

Three Arrows Capital is impressive, right? At its peak, it managed hundreds of billions of dollars in cryptocurrency capital, but it went bankrupt and went to zero during the bear market, and the founder went directly to prison.
Japan's SoftBank Group is amazing, but they came to the crypto world and ended up losing a fortune, ultimately withdrawing from the crypto space with a 90% loss.
Sequoia Capital is impressive, right? They invested in a bunch of zero-value coins in the crypto space, and now they shake their heads whenever the crypto space is mentioned.
Grayscale is the most familiar to everyone, right? I bought FIL at 95 and got stuck at Mount Everest. I still haven't given up and can only add positions at low levels to lower the cost.
FTX was the second largest exchange in the world back then, with momentum to surpass Binance, and even received investment from Singapore's largest state-owned enterprise, Temasek. It collapsed in the bear market, and the founder ended up in jail.
Not to mention the ETH treasury companies now, the crypto world specializes in dealing with various grievances; even the dogs passing by during a bear market have to be cut once.