Recently, the marketplace has been somewhat delicate. Arthur Hayes proposed a view: the U.S. government shutdown is draining market liquidity, leading to weak performance in the major indices. However, he shifted his tone, mentioning that the White House might be preparing some form of covert quantitative easing. If this assessment is correct, it could serve as a significant stimulus to the market.

Bliwise's chief investment officer observed that retail investor sentiment has bottomed out, reaching a state of "extreme despair." But he believes the crypto winter will not arrive. The reasons? Several signals are worth noting: the regulatory crackdown is easing, some senators are openly discussing using Bitcoin reserves to address national debt issues, and LAVA's Bitcoin ETF is preparing to enter the Australian market.

At the industry level, there are also some new developments. Standard Chartered plans to launch Bitcoin and Ether custody services in Hong Kong next year, LAVA has secured $200 million in funding, and even the previously hacked Berachah Foundation has recovered all its funds. These events somewhat reflect the industry's efforts to self-improve.

For ordinary investors, short-term fluctuations can indeed be anxiety-inducing. Looking back at history, when Bitcoin fell to $3,000, many chose to exit, but six months later, the price surged to $60,000. Market sentiment often runs counter to actual trends—when most people are despairing, it may be precisely the opportunity; when most are euphoric, it’s time to stay calm.

At this stage, building a position gradually might be a relatively prudent strategy. Of course, everyone’s risk tolerance varies, and managing your position size is more important than chasing quick riches. Don’t let short-term noise interfere with your long-term judgment.