Actually, we should also think about it: at its core, the fundamental situation in the crypto world has basic problems. It should have been like this a long time ago. Recently, risks have been exposed one after another within the crypto space—nothing more than MicroStrategy selling the big story, and Ethereum project teams having issues, which was triggered by resignations and big KOLs turning bearish. Add to that the World Cup, IPOs, expectations of interest rate hikes in the second half of the year, global inflation, and geopolitical conflicts. And so on—multiple waves of negative factors. It all came down, and then it dropped.

Think long-term. In the previous move, from 1400 to 4900, there was a genuine long-term tailwind that pushed price upward. But when it was at 1400, the whole world was shouting for 800. This time, it definitely hasn’t bottomed out yet. However, you can start accumulating spot positions in batches at lower prices. Hold for three years. Right now, it’s mainly institutional players readjusting their pricing again.

Looking at it from a short-term perspective: for Bitcoin, the “big narrative” position around the high-$60,000 area is likely to test that level. For Ethereum, around 1600, it will likely test it too. In the future, blockchain applications will be especially abundant. During this drop, it’s best not to easily buy shanzhai coins. The probability of them going to zero is high. Mainstream platform tokens generally don’t have much of an issue.

For contract trading: around the 1800 area on Ethereum, or below it, take long positions, and if you control your position size well, there should be no major risk. Whether short-term or long-term, you likely won’t get wiped out.

Although, in the long run, these negative factors haven’t been completely exhausted—no matter what, it feels like the upside space is much larger than the downside. I’ll go on live later to do some research. Recently, still control your position size. Don’t go all-in—bottom-fishing isn’t possible. Wait patiently.

Whether you go long or short, you need to control your positions. If the market is unstable, wait until it forms a range and then we can go in with heavier positions and go all out.

Everyone, pay attention to the interest rate decision meeting on the 18th of this month. There may be a bit of opportunity. The signing of the clear answer in July will also help boost the market.