#数字货币市场回升 This morning at 8 o'clock, Bitcoin has dropped directly from 93,000 dollars to 88,000. In less than an hour, over 200,000 people got liquidated.

In the circle of friends, there is a wail of despair, but to be honest, I am a bit excited.

This rapid sell-off is often more interesting than a slow and steady decline — panic comes quickly and goes just as fast, which makes it easier to create a buying opportunity.

I reviewed the triggers for this wave of sharp decline and can roughly identify a few clues:

The Federal Reserve has recently made frequent hawkish statements, and the expectations for interest rate cuts have basically cooled down. With the strength of the US dollar, Bitcoin, as a high-volatility asset, naturally cannot withstand it. The flow of ETF funds also illustrates the issue clearly—there has been a net outflow for seven consecutive weeks, and institutions are obviously reducing their positions and taking a wait-and-see approach. Without the support of large funds, the market is like a spinning top that has lost its center.

The regulatory environment remains ambiguous. In the United States, the progress of cryptocurrency legislation is slow, while domestically, there is a reaffirmation of the prohibition on virtual currency trading. With the fog of policy still lingering, big money is hesitant to enter the market easily.

More crucially, on-chain data shows that long-term holders sold a total of 800,000 BTC in the past month. Even these "diamond hands" have started to loosen, and it's easy to imagine the panic among retail investors. Additionally, with leverage players crowded in the market, a price drop triggers a chain reaction of Get Liquidated events, and this morning's "longs killing longs" was essentially a stampede.

But I always believe: every sudden drop is a signal for phased layout.

Do you remember that time in March this year? $BTC dropped from 72,000 to 60,000, and those who dared to buy around 61,000 later enjoyed a nice rebound.

My current operating strategy is very simple: keep 50% cash on the sidelines, don't rush to go all in; closely monitor Bitcoin, consider gradually building positions below 85,000; firmly avoid high leverage – surviving is much more important than making quick money.

The market always brews in despair. If you are always led by market emotions, you are destined to become a target for being harvested. The market does not believe in blind optimism, only rewarding those who can understand the signals and remain calm.