I have always emphasized that there is no eternal bull market. Bitcoin and other cryptocurrencies are ultimately financial instruments controlled by Wall Street. Any financial instrument has bull and bear markets; the longer the bull market lasts, the longer the bear market will be. Whenever our inflows show a strong surge, we eventually retreat. The actual trading volume of spot markets remains calm across the board.

Derivatives players control the market's ups and downs, constantly seeking liquidity and leveraged washouts.

I have been saying this for months; we are in an environment where derivatives participants are fully liquidated, and leveraged trading must be mindful of risks. $BTC