June 7, 2026

Happy weekend. Although this market situation is already unbearable to look at, I guess most people have chosen to lie flat and pretend to be cool, so maybe it's hard to feel happy. But I still stick to my words: investing is part of life, and you must manage your positions well, avoid reckless all-in bets, and never blindly leverage yourself beyond your capacity, turning into a gambler.
This wave of decline made someone named Xingchen famous; the reason is that after earning a few million U.S. dollars over several months, he was wiped out in one sudden move.
The whole market is filled with sighs and lamentations, but few mention the risks of derivatives. The biggest risk in derivatives is the behavior triggered by holding positions too tightly, which can easily turn into gambling. That’s the fundamental reason I no longer warn about risks.
Of course, spot trading also has risks. Over these years of evolution, the crypto space has become a printing press for some people, especially those teams running clone projects, claiming to be decentralized and promising to change the crypto world. After launching these projects on exchanges, they start to cash out without restraint, leaving countless retail investors suffering.
99.9% of clone projects are purely speculative; remember this. Don’t develop faith in any crypto project. Sell when it’s time to sell. Perhaps this is the biggest lesson learned in recent years.
Back to the current situation, Bitcoin has temporarily held above the 60k mark. This level is very important. Not breaking below it in the short term indicates strong support, so it can be seen as a stabilization after the decline. The next step depends on the strength of the rebound. If it stalls and cannot go higher, then it’s likely to try to move downward again.