#我在Gate广场过新年 The panic index has directly dropped to 5. This is not even panic; it's despair. The last time I saw such extreme single-digit values was during previous black swan events. Yesterday it was 11, and today it was halved again. Market confidence is not just waning; it's collapsing. TD Securities has pushed back the Federal Reserve's rate cut expectations from March directly to June. This is the fundamental reason why everyone's mindset has been shattered. The market was originally hanging on to the hope of liquidity easing in March, but now the oxygen supply has been suddenly cut off, and we still have to endure three more months. The expectation suddenly falling short is even more painful than the actual rate hike being implemented. The fear of liquidity exhaustion has overshadowed everything; even the long bulls will choose to cut positions at all costs because they can't bear the pressure. History always repeats itself astonishingly. Bear markets arrive suddenly before everyone is ready, and the single-digit panic value also means the market is full of bloodied chips, with irrational selling happening. In this suffocating market, do you choose to cut losses and leave happily, or dare to close your eyes and catch this falling knife?$ETH