The market rebounded well over the weekend. Bitcoin rebounded from the lowest point of 53,400 to above 58,000. All kinds of altcoins also took off, especially $sats and $pizza, which benefited from the release of new swap products by unisat. The rebound of $pizza even reached an astonishing 217%. Other altcoins also rose by about 30% over the weekend. However, starting from this morning, the market seemed to have changed and began to fall as soon as it opened its eyes. In addition, it also plummeted as soon as it woke up in the morning for several working days last week. It really makes people wonder whether it is caused by the Chinese government's shipment. The rebound occurred because civil servants did not go to work on weekends. Of course, this is just speculation. I think our government is likely to be unable to hold so many BTC. Many news reports say that the government has already shipped out before Huobi has withdrawn. In addition, major data platforms have not marked the address of the Chinese government, and it is likely that it has sold out.

If it is not the national institutions in Asia that are selling, then the closest to the truth may be as I said last Friday, 140,000 in Mentougou, 210,000 in the US government, 40,000 in Germany, and more than 60,000 in the UK government, so much short-term potential selling pressure makes retail investors feel like a frightened bird, so they start selling early. The fact is that the German government did transfer 1,000 bitcoins to Coinbase and Bitstamp starting at noon today. Regarding the market crash, we cannot say that this kind of operation of foreseeing risks and running away first is wrong. Maybe this is the difference between traders and believers, short-term speculative arbitrage and long-term value investment. In my opinion, although various governments and large institutions hold a lot of bitcoins, which may add up to tens of billions, compared with the scale of US$224 billion in the liquid market since 2023, it cannot reverse the trend. In addition, the subsequent interest rate cuts by the United States will cause market funds to expand again, so this wave of market crash is a good time for long-term coin holders to enter. Once the big thunders such as Mentougou and various governments are completely lifted, those who should sell should sell and those who should keep should keep, and the crypto market once again proves its pressure resistance and circulation capacity, then the line that restricts the continued soaring of crypto will be completely broken, and the price of Bitcoin will once again exceed our imagination.