Summarize the triggers of Black Swan Events in the market over the past five years and their subsequent impact on trends as a reference.

1. May 2021: Dual Impact of Musk and Chinese Regulation
Time: May 2021 - July 2021
Event: Musk announces Tesla will suspend accepting BTC payments;
Pandas completely ban cryptocurrency mining and trading.
Drop magnitude: BTC fell from $64,000 to $29,000, ETH fell from $4,300 to $1,700.
Subsequent trend: After hitting the bottom at the end of July, rebounded, and in November BTC reached a new high of $69,000
This time, the Bitcoin weekly level has touched the lower track and started to rebound.

2. May 2022: LUNA/UST Collapse (Algorithmic Stablecoin Crisis)
Date: May 9-12, 2022
Event: The stablecoin UST of the Terra ecosystem depegged, and LUNA plummeted to 0; over $40 billion in market value evaporated.
Drop magnitude: BTC fell from $39,000 to $26,000, and ETH fell from $2,900 to $1,700.
Subsequent trend: A landmark bear market has begun, and the crisis of trust has spread to DeFi and CEX.

3. November 2022: FTX Collapse (Centralized Trust Failure)
Date: November 8–12, 2022
Event: The world's second-largest exchange has gone bankrupt, and customer funds have been misappropriated; triggering large-scale panic withdrawals on-chain.
Drop magnitude: BTC fell from $21,000 to $15,500; ETH fell from $1,600 to $1,080.
Subsequent Trends: The market gradually regained confidence starting from January 2023, initiating a new round of rebound.

4. March 2023: U.S. Banking Crisis (Collapse of SVB and Signature)
Date: March 10–15, 2023
Event: Silicon Valley Bank (SVB) collapsed, USDC briefly de-pegged; the market was once worried about systemic risks in the crypto banking system.
Drop magnitude: BTC fell from $22,000 to $19,500 (then quickly rebounded).
Subsequent trends: The market interprets it as "the Federal Reserve may slow down interest rate hikes," which instead sparked a wave of BTC increases.

📈 Overall patterns and summary:
1. The decline in each Black Swan Event is usually between 30% and 80%;
2. The triggers for sharp declines are often a crisis of confidence (in exchanges/stablecoins) or macro liquidity tightening;
3. Almost all sharp declines will see a phase rebound within 6-12 months, especially during the Federal Reserve's easing cycle;
4. In the long-term trend, each Black Swan Event is a "consolidation period" before a major bull market.

The main reason for the current Black Swan Event is the market profit-taking triggered by the resumption of shipping tariffs between China and the United States, leading to uncertainty. The market took the opportunity to adjust, with Bitcoin directly adjusting to the lower bound of the weekly chart. Compared to previous Black Swan Events, the continued bear market was due to a lack of positive stimuli to support a rebound, resulting in a medium-term adjustment. However, for recent Black Swan Events where there have been positive stimuli, the market quickly welcomed a new round of upward trends after short-term adjustments. Currently, the market needs about two weeks for recovery. Facing the interest rate cut expectations at the end of October and in December, after short-term adjustment of technical indicators, the outlook for the market still presents a significant opportunity for a new wave of trends. It is advisable to take the opportunity to buy some Bitcoin and Ethereum spot as well as mainstream altcoin spot, waiting for the market to rise with two interest rate cut supports. It is recommended to maintain a spot position of 50%.