AllianceDAO co-founder QwQiao: Most savvy traders have turned bearish, and market sentiment is becoming increasingly cautious.

Odaily Odaily reports that QwQiao, co-founder of AllianceDAO, stated that most experienced traders and long-term investors have turned bearish across different timeframes, indicating a significantly more cautious overall sentiment in the crypto market. QwQiao said he has been cautious about market trends since mid-September. While he remains optimistic about the industry's long-term prospects, he believes that moderately reducing positions is a more rational choice given the convergence of multiple signals. He pointed out that the market may be currently in a phase of structural divergence: AI concept stocks continue to rise, while other assets, including crypto assets, face continued pressure.