Domestic participants are clearing their positions:

In China, many seasoned participants, such as OG (veteran figures), old SP (old storage service providers), old investors (experienced investors), old industry veterans, and old KOL (industry opinion leaders), have chosen to clear their positions around 6U, leaving only a small amount as a memento. They may have decided to exit the market based on their long-term observations and judgments of the domestic policy environment and market trends, believing that the risks of Filecoin have exceeded potential returns, thus deciding to 'turn the page' and seek other investment opportunities.

Optimistic expectations in foreign markets: In stark contrast to the pessimistic attitudes of some domestic participants, foreigners do not consider the complex factors affecting the domestic market and focus more on the technology and market potential of Filecoin itself. They believe that FIL's price has significant rebound potential and that the current price level may present a great buying opportunity. This optimistic expectation encourages them to actively participate when the secondary market price rebounds, driving rapid growth in the number of addresses and increased market activity.

The alternation of new and old investors and market divergence: With the price rebound, an interesting phenomenon has emerged in the market. Some people see hope, believing that if prices continue to rise, it will attract new investors. For new investors, the current price may be their starting point. However, for some old investors, the price rebound has also become their selling point, as they hope to lock in profits at the right time. This divergence between buyers and sellers is vividly displayed in the market, with both sides possibly even exchanging words like 'SB'. But this is precisely the charm of the market; when some get off the bus, others will surely get on. The market is always in dynamic change and divergence.