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In this wave of sharp declines, ETFs can be said to be one of the biggest driving forces.
Those who should have exited already left in the last bull market. Those still in the market are either true believers or people who are so deeply trapped that they can't move. The market needs time for a complete reshuffling of chips, and we also need this period to rethink the logic behind our positions.
If you truly believe that Bitcoin represents the future, then hold on tightly to your spot assets—tens of thousands of dollars for BTC might really be the last time you see it in this price range. But if, deep down, you think this thing is just a bubble, then opening high leverage is essentially admitting: you’re just a pure gambler, and it has nothing to do with investing.
The market will give the answer, but only if you first figure out whether you’re betting or investing.