This decline is different from the black swan event on 10.11, although signs of that event were already apparent. There is an essential difference between a bear market and a bull market pullback, which is the collective force of the market: miners are selling, large holders are selling, and retail investors are selling. Those holding chips are all pessimistic, and due to the dark forest theory, those who run slowly will not get a good price, so everyone is scrambling to sell. Moreover, there is a ticking time bomb that has not yet exploded, which is various treasury companies. When the coin price continues to fall, they will have to sell to recover funds. If it reaches this point, the downward death spiral will officially form. The current situation is likely to develop in this direction, and if so, 100,000 or 90,000 will not be the end. But at the same time, the short positions in the futures market have already taken the mainstream, but if no one goes long, how will they realize their profits? Everything can only be seen in the subsequent trends. If the subsequent trends do not have a continuous weekly rise, one can safely short, entering a repetitive rhythm of rapid decline - slow recovery - slow decline - rapid decline - slow recovery... Otherwise, it will be a violent rise, performing a strong short squeeze #加密市场回调 #BTC走势分析 .