This round of market conditions is likely to be tossed around again. However, looking at the on-chain data, the market makers are also feeling the pressure – retail investors are no longer daring to chase the trends, and now it’s just big funds holding firm, transferring chips back and forth, resulting in a situation where they harm themselves while trying to defeat the enemy.

To be honest, I originally didn't plan to wade into this muddy water. By chance, the market has pulled back to a position that I think is unlikely, so let's play along.

My trading strategy is very clear: a doubled margin as the baseline, operating with 5x leverage, and making a top-up at the 0.534 level. The liquidation and stop-loss have been set, and all defensive measures are in place. It's straightforward, nothing to hide.

If it really blows up in the end, this market maker trading strategy can serve as a review material for the end of the year. In any case, both wins and losses are teaching materials.