Today's market is really making people feel anxious! BTC directly broke the 84000 USD barrier, with a single day big dump of over 8 points. Even more exaggerated is that 260,000 people across the network got liquidated, with evaporated funds nearing 1 billion — are you in this group?

The driving force behind this round of big dump is actually not hard to guess: the Bank of Japan hinted that it might raise interest rates in December, and as global liquidity expectations tightened, risk assets naturally took the brunt. On top of that, there were market rumors that certain institutions might need to sell off their positions to relieve funding pressure, and with these two bearish factors colliding, it directly smashed the market.

However, that being said, although this wave of decline is fierce, it may not necessarily be a bottomless pit. The interest rate hikes in Japan are still at the "expected" stage, and there is no solid evidence of institutional sell-offs. To put it bluntly, it’s panic trading driven by emotions. Retail investors should avoid hastily selling at a loss—if you have a spot position, selling now would turn unrealized losses into realized losses; friends with a light position can wait for the market sentiment to calm down before considering a small increase in position, but never leverage to bet on a rebound; betting at this time is like giving away money.

The market is always full of opportunities, what is lacking is a calm mind. Keep your composure, and when this turbulence passes, opportunities will naturally come. Patience is more valuable than blind trading.