[AllianceDAO Co-founder QwQiao: Most Traders Turn Bearish on the Market] AllianceDAO Co-founder QwQiao stated that the majority of experienced traders and long-term investors have shifted to a bearish outlook during different cycles, and the overall sentiment in the crypto market has become cautious. QwQiao revealed that he has adopted a cautious stance on market trends since mid-September, believing that under the convergence of multiple signals, moderately reducing positions is a more rational approach. He pointed out that the market may currently be in a phase of structural divergence, with AI concept stocks continuing to rise, while other assets, including crypto assets, are under pressure.