Since BTC officially launched its ETF on the US stock market, market liquidity has noticeably decreased, while the correlation between BTC and the three major US stock indices has continued to rise.

BTC has gradually detached from the traditional "four-year cycle" pattern, and today’s market environment is completely different from the bull market of 2020.

The trend of BTC becoming more like a US stock has worsened its liquidity, making the market more easily controlled.

In this context, the leverage multiplier used when trading BTC should be appropriately reduced to control risk, in order to survive as long as possible.