Recently, watching the market fluctuations, I believe that it is difficult for the cryptocurrency market to see a one-sided trend in the short term. The main reason is not complicated — US Treasury yields are currently high, and Japan is pulling back funds. These two factors combined have significantly squeezed market liquidity.

By observing recent market movements, it’s clear that mainstream assets like Bitcoin and Ethereum are oscillating up and down without a clear direction. Some want to dump, but the problem is they can’t — if the price drops too much, the entire liquidity pool may face issues, and large funds in the US can’t operate effectively either.

Therefore, my approach is: instead of blindly chasing gains or panicking, it’s better to wait patiently. The key is to monitor the 3-month and 2-year US Treasury yield curves. When these two indicators start to adjust and liquidity pressure eases, it will be a good opportunity for large funds to truly step in and bottom out. At that moment, the market can form a new consensus.

The current strategy is: observe macro conditions, set the bottoming trigger, and patiently wait for signals.