How to view the market after "Black Monday"? Bitcoin's pullback, liquidation waves, and policy uncertainties

【BlockBeats】 Asian morning crypto markets collectively under pressure. Shortly after the market opened on Monday, Bitcoin quickly retreated from last week’s high of $97,000, falling below $92,000 during the session; Ethereum also failed to hold above $3,200, and Solana dropped below $140. According to Coinglass data, the total liquidation in the past 4 hours reached $593 million, with longs accounting for nearly 90%.

What is behind this wave of correction? The market generally points to a combination of several factors: firstly, the expectation of the new Federal Reserve chair shifting from “dovish” to “hawkish,” which has heightened concerns about future policies; secondly, the Greenland dispute and US-EU tariff frictions have become focal points again; finally, the long-anticipated CLARITY bill in the Senate has faced resistance, causing a shift in the policy support that was once seen as promising.

Honestly, this seems more like an emotional fluctuation triggered by profit-taking at high levels rather than a trend reversal signal. In such a high-volatility environment, many traders are considering how to respond—some choose to hold and watch, while others are adjusting their positions. The key is to have a clear understanding of your risk exposure and not be led by short-term emotions. If macro uncertainties continue to signal instability, be prepared mentally.