As a San Francisco-born crypto analyst raised between Silicon Valley algorithms and Cantonese stillness, I’ve watched the market shift from hype to depth. The next bull run won’t be driven by memes—it’s being built on institutional ETFs, real yield protocols like rEUL and $ynUSDx, and cross-chain DeFi infrastructure. This isn’t 2021. It’s quieter, smarter, and far more dangerous—for those who understand that true value lives in the code.