⚡️ Friends, recently the prices of gold and silver have dropped significantly, and Bitcoin has also experienced some fluctuations. What everyone is discussing in the market is whether Bitcoin will follow the downward trend again this time.
From the market perspective, Bitcoin has indeed pulled back from its highs, even dropping below $70,000 at one point. Some older mining machines are nearing shutdown prices, and market sentiment has also cooled quite a bit.
Interestingly, compared to the cliff-like drop of gold and silver, this wave of Bitcoin, while also declining, still shows some resilience overall, and has not led to a panic situation like a chain of liquidations.
Currently, there are clear divergences in the market. On one side, the volatility in the options market has surged, with large funds leaning towards a defensive stance; on the other side, on-chain data shows that valuations are gradually entering a lower range, and extreme fear indices occasionally serve as a contrarian signal. In simple terms, it seems that in the short term, we may have to endure some fluctuations, but the potential for a deep drop may not be that large.
I believe that during such times, there is no need to focus too much on the intraday charts. Once the market enters this emotional phase, it is easy to amplify panic and also easy to overlook the rhythm. Rather than trying to guess the bottom, it may be more practical to maintain observational patience, not to panic sell during sharp declines, and not to rush in during a rebound.
In the long run, the logic of Bitcoin and gold is ultimately different, each with its own script. The current synchronized decline seems more like a short-term resonance at the funding level. When the storm comes, everyone shakes, but after the weather clears, each one's vitality will truly manifest.
Stay level-headed; volatility is part of the market. Don't let emotions run away with you; maintaining a rhythm that you can understand might be more important than predicting tomorrow's ups and downs.
