$BTC The US SEC and the EU jointly limit leverage to 20 times, prohibiting automatic margin calls, leading to increased volatility in centralized exchanges and a shift of funds to decentralized platforms (such as XBIT).

- **Countermeasures**: Reduce leverage, use smart risk control tools on platforms like XBIT (such as dynamic collateral ratio adjustments), or hedge policy risks through the Bitcoin Volatility Index (XBIT-VIX). Bitcoin spot ETF saw a net inflow of $1.8 billion in a single week, with BlackRock's IBIT fund consistently leading in position share; MicroStrategy plans to increase its Bitcoin holdings by $84 billion within two years, driving supply-demand imbalance.

- Companies like Japan's Metaplanet and India's Jetking are significantly increasing their Bitcoin holdings, indicating a surge in corporate allocation demand.

- **Operational Focus**: Track on-chain data (such as the increase in whale addresses), and accumulate positions in batches during the pullback phase.