#比特币价格走势 When I saw the data for November, I was indeed a bit scared. The weakest performance since 2018, with a fall of 20-25%, is no small fluctuation. What’s even more heartbreaking is that the selling pressure mainly comes from the European session, while Asia and the US are basically flat—what does this indicate? It indicates that this is not a global panic, but rather a concentrated escape of specific funds at a specific time.

I have seen too many people get cut in this kind of asymmetric sell pressure. On the surface, it looks like the market is falling, but in reality, someone is targeting precisely. Institutional investors are dumping during the European session, while retail investors are still bottom-fishing during the Asian and American sessions, resulting in them being caught in the middle and becoming the bag holders.

The key is to recognize clearly: a significant fall itself is not scary; what is scary is that you do not see the structure behind the fall. Continuous net selling pressure in a single time zone often indicates that someone is liquidating positions or setting up short positions. If you are still blindly chasing the rise or being driven by emotions at this stage, you are just helping others to profit.

The current situation is: stay vigilant and observe whether this selling pressure can be absorbed. If the selling pressure during the European session continues, it means that some large funds have not fully exited yet, and any rebound is a risk rather than an opportunity. Experience tells me that this kind of asymmetric dumping often indicates that there will be a deeper decline to follow.

Don't be misled by the rebound; first, see clearly who is selling and why they are selling.