Today is July 5th, another day when the market continues to weaken. I know that many of my friends are in a bad mood, especially those who have overweight copycat positions and must be under great psychological pressure. It is true that almost all the copycats in the market have fallen back to the bear market level. (This is why we always recommend building positions based on market share, because the retracement of copycats is often much greater than that of the mainstream; we emphasize never being full of positions; we emphasize setting disciplines and strategies for ourselves, because no one can overcome human nature)

This round of market conditions started with the official launch of the application for BTC spot ETF in October last year and ended in April. BTC has been rising every month during these 7 months. The market has also reached a periodic high, and the panic and greed index has remained above 65 for a long time (now 38).

Since July, the downward pressure on the market has come from the liquidation of the German government and MTGox, FTX and other institutions. Mentougou (MTGox) alone will sell about 200,000 Bitcoins, equivalent to US$11 billion in selling. The volume of this company is This is equivalent to 2/3 of the net inflow of funds since the adoption of BTC ETF.

At this moment, I hope everyone can stay calm, think more and summarize experiences and lessons. It is best to take notes and write them on the whiteboard. Don't be too anxious and pay too much attention to the market. Because too much attention will only make you more anxious and miserable. If you are really stressed out, work hard, go out to play, and do something that makes you happy.