What you fear always comes true. Yesterday, I was worried about whether the weekend would continue the downward trend, and since weekend drops have a bigger impact due to lower liquidity, it really happened. Even though the market isn’t open today, the sharp drop in BTC still started during U.S. trading hours, right around the usual time the U.S. stock market opens. This shows that this wave of selling is mainly driven by U.S. investors. It seems like they first liquidated U.S. stocks and precious metals, then worried about further drops on Monday, so they started selling liquid assets over the weekend. If that’s the case, it’s like the weekend already priced in next week’s losses. At today’s lowest point, BTC even dropped below MSTR’s cost basis of $76,000, but it hasn’t broken mNAV yet. If it does, it might be worth considering. Generally speaking, if there’s no fundamental change, it’s likely that liquidity recovery on Monday could lead to a rebound. I’m not sure if it’ll happen, but I personally bought the dip. This price is still attractive to me, and if it drops below $70,000, I’ll keep buying. I was just talking to my friends today about how the average cost for U.S. Bitcoin ETFs is around $70,000, and if it falls below $70,000, quite a few miners might have to shut down. Looking back at Bitcoin’s data, the price drop is pretty steep, and the turnover rate is high. Especially with such large-scale turnover, it seems like most of it started during U.S. trading hours. We still don’t know how Asian investors will react in the morning. If there’s another wave of panic selling in Asia, it could lead to another big liquidation. The key will be Monday. The lowest point since the rally over the past year was $74,400 on April 7. Let’s see if this price gets broken. But judging from the current token structure, things are still relatively stable, and there hasn’t been widespread panic among most investors. The actual selling is mostly coming from short-term investors. @bitget VIP, lower fees, bigger perks!