Looking back at what really happened in October 2025. It wasn’t actually the crypto market itself that had issues—it was the liquidity in the entire financial market. The SOFR rate suddenly spiked, causing a dollar shortage in the market. Institutions had no choice but to sell off crypto assets to deal with the emergency, leading to a continuous crash starting in October. The bull run was going so well, and then it just vanished. The Fed overdid it with the balance sheet reduction, which is why they’re now urgently injecting liquidity. There’s a reason Powell is called 'Mr. Too Late.' On the 31st of last month, they urgently injected $70 billion, and it looks like they’ll have to add more this month. After the 15th, the impact of liquidity on the market will feel even more obvious. Hang in there, brothers, we’ve got to hold on.