Currently, many investors are facing losses, and this situation is not an isolated case. Take MicroStrategy as an example; the company chose to hold its position when BTC reached a high of $126,000, and now it faces a floating loss of $4.6 billion but remains steadfast. This reflects a stark contrast between institutional investors' long-term strategic thinking and retail investors' short-term anxiety.

According to the latest market data, BTC is currently priced at $69.03K, with a 24-hour increase of 4.65%. Market observations show that institutional funds and whales continue to absorb retail chips at low levels, forming a clear chip transfer effect. In this process, retail investors exhibit a typical "buy the dip and sell the rally" phenomenon—panic selling at lows and chasing gains at highs. Meanwhile, large capital players show no signs of aggressive dumping; instead, they are quietly positioning themselves.

In this market pattern, those who lose money are often impatient investors, while the steadfast holders are waiting for the next institutional push.