This major decline is not a single black swan but a chain reaction: the old-school consensus has collapsed (institutions leading the run, ETF funds continuously flowing out), macro factors have turned hostile (hawkish Federal Reserve expectations scaring all risk assets), leading to a series of liquidations. Is it a collapse of faith? Yes, but what’s collapsing are the illusions of “only rising and never falling” and “getting rich instantly.”

Bitcoin holding at 60,000 is unsustainable, Ethereum might go to 1300?

What to do? Don’t rely on faith to withstand volatility. Use spare funds, reduce leverage, and think carefully about whether you’re betting on a narrative shift or the technological future. The bear market is a learning period; wait for the next wave of consensus to form. Save your bullets and survive until the next round. #当前行情抄底还是观望？