June 3, 2026

The recent busy period has come to an end; let's talk about the recent market situation. First, the decline over the past two days has been very significant, especially Bitcoin dropping from 80k and heading straight toward the previous low of 60k, with even rumors of 50k in the market. The short-term decline has nearly reached 20%, which is an exaggerated figure. Keep in mind, this is Bitcoin; the situation for other coins is even more dire. Ethereum has currently fallen below 2,000 points, now trading around 1,800+, and although it hasn't broken the previous low, this wave of decline essentially marks the end of the rebound trend.
Since the rebound trend has ended, there may be even lower points ahead, which is why some are calling for Bitcoin to drop to 50k—there's some logic to that.
However, I want to say that market pessimism is a normal emotional response after a sharp decline, and right now, it's somewhat excessive. The recent drop in Bitcoin mainly stems from MicroStrategy starting to sell small amounts of Bitcoin, breaking the "never sell" principle. If they were truly planning large-scale short-term sales, given MicroStrategy's size, it wouldn't be hard to cut the price in half again. But from what I see, this small-scale Bitcoin sale isn't turning bearish, nor is it a panic sell; it's a disciplined, passive capital management move driven by the new debt structure of perpetual interest payments on preferred shares.
Therefore, understanding the true intention behind these operations is what a rational investor needs to do.
Objectively speaking, regardless of the reasons, the market is indeed falling—that's an undeniable fact. I initially defined this wave of decline as a rebound. I have already exited my position.