I opened my account at six o'clock, and I almost threw my phone into the sea.

When $BTC in front of everyone fell all the way from 73,000 to 64,000, the market was full of bullish voices. I bit the bullet and stood on the other side. Back then, the sea breeze in Yantai was blowing people’s minds, but the numbers in my account were falling even faster than the temperature.

As it played out, this wave pushed my unrealized profit straight up to a level that made your hands tremble—not because I chased shorts, but because I held on against the prevailing emotions.

A lot of people always think the hardest part of trading is finding the direction, but that’s not it. The hardest part is being able to hold on.

Run the moment it rises a bit, panic the moment it dips a bit—until you finally get the direction right, but still end up not making the profit. Real “big meat” usually comes from patience.

If the dog庄 (market maker) isn’t satisfied, go ahead and pull it up—liquidation prices are still a long way off.

Now $BTC is still hovering around 62,507, down nearly 5 points in 24 hours. This isn’t just a normal pullback anymore—this is the market re-pricing itself.

While the bears are celebrating, long positions are being liquidated over and over again, and the blood in the liquidation zones is flowing faster than the waves. $ETH also fell to 1,684, and the overall mood is just two words—totally chilled.

Looking the other way, Strategy’s preferred share STRC has dropped to $89, the lowest since its IPO, and its yield has shot up to 12.9%.

The official response says that selling $BTC can pay 32 years of dividends. It sounds like a reassuring statement, but the market isn’t buying it at all. A company that has propped up its market value with $BTC reserves now needs to sell assets to repay debts—which is a significant blow to funding confidence across the entire crypto space.

Altcoins have been soft lately. Once the signal from STRC came out, funds will likely keep shifting toward $BTC and $ETH, further concentrating liquidity, while other smaller coins can only stand by and watch.

How long do you think this bear run can last— or is the dog庄 really planning to blow everyone up?
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