This wave of the market feast seems to be coming to an end. Looking back, the top KOLs have long been full and satisfied, each with their bowls and basins overflowing. In contrast, retail investors have gone from full of enthusiasm at the beginning of the year to being completely cut off now. The entire process is like a carefully designed K-line wave—rising peaks after peaks, only to end in a dull curtain call.

This is the market's law. Big players have information, funds, and escape routes; they have long exited at the top of the market. The retail investors who remain are still debating whether to hold their positions during trading, but a wave of decline washes them all out. Every root of the leek has been harvested, leaving no chance for a comeback.

When the next cycle arrives, these trapped investors will either cut their losses and admit defeat or continue to hold on. But this time, who dares to easily believe in those beautiful gains?