Profit and loss share the same source; this is how we do it, and institutions do the same.

The current route of selling off during a sharp decline is the same as the route of mindlessly buying every day at the beginning.
Since June 1st, there has been a continuous downward trend, and many people attribute it to the 32 coins sold by strategy; at that time, only 2.5 million USD was sold in total, while others attribute it to liquidity absorption by the US stock market, or reasons like the upcoming World Cup leading people to bet on football, etc.
But no one notices that those institutions that once bought mindlessly every day are now mindlessly selling every day, with a net outflow continuing for three weeks. It’s not just a matter of a day or two of sentiment; the overall institutions are retreating.
Previously, every morning upon waking, you could see how much BTC these institutions bought ignoring the price; now, every morning, you see how much BTC they are selling ignoring the price. The only difference is that during selling, there are no news flashes, while during buying, media headlines report it.
For the market, the final test has not yet arrived; the institutions’ selling will trigger a series of problems, such as margin liquidations, shutdowns of mining farms, and other issues that have not yet been fully exposed.
This round was successful for the institutions, but their defeat remains with the institutions; I hope everyone can ultimately survive.