Early morning sideways consolidation is frustrating, while the morning sees a cliff dive. The market always uses extreme declines to scare away all the long-term holders who are holding at low levels and to force out all the panic-selling chips. Big gains are brewed during consolidation, big drops occur after celebrations, and opportunities are always hidden in extreme panic. Last night, the market generally maintained high-level oscillation, with Bitcoin continuously trading sideways in the 78,500-79,400 range under pressure. Multiple attempts by the bulls to break through the previous high of 79,500 failed, and upward momentum continued to weaken. Today, after the white session opened, the bulls' push became completely exhausted, and the bears concentrated their efforts, leading to a rapid, unilateral plunge: there’s no need to blindly chase short positions or overly bearish now. After panic subsides, gradually build long positions at low levels, waiting for an oversold rebound, and confidently recover your profits. The current market is just a violent shakeout at high levels, inducing shorts to absorb liquidity, which is not a trend reversal to the downside. The sharp decline with increased volume is just cleaning out the previous trend-following longs’ floating positions. Panic selling has been fully flushed out, and selling pressure has been released to the extreme. The price retraces to the previous key support zone, with strong support around 76,400. Multiple bottom tests have not effectively broken below this level. After extreme overselling, the probability of a rebound and recovery is much higher than continuing to fall sharply. The correction of the longs that were wrongly killed is imminent. Ethereum has also completed its oversold correction. Once Bitcoin begins to rebound, Ethereum’s elasticity and gains will far surpass Bitcoin’s, with huge room for a catch-up rally.