#隐私币生态普涨 Last night's sharp fall, the on-chain data reveals information worth pondering.

After the regulatory news was released, $BTC retraced 8% within ten minutes. However, interestingly, on-chain monitoring shows that during the same time period, multiple whale addresses collectively increased their holdings by about 32,000 bitcoins. This scenario of "retail panic selling, large players going against the trend to accumulate" has played out repeatedly in history.

Do you remember that time in 2020? Bitcoin plummeted from nearly $10,000 to $3,800, and everyone said the bull market was over. What happened next? 18 months later, the price reached $69,000. It's not to say that every crash can replicate that market trend, but it at least proves one thing — panic selling often creates entry opportunities.

If you want to survive in this market, it is advisable to remember a few principles:

**Look on-chain, not at emotions.** When the community is full of wailing, check the blockchain explorer to see what the big players are doing. They are increasing their positions while you are waiting, they are selling while you are chasing the highs—this is the fundamental reason why retail investors lose money.

**Don't go all in at once.** A 30% pullback can be a tentative entry, consider increasing your position if it falls to 70%. Going all in for a bottom pick? That's called gambling.

**Mainstream Priority.** Under the shadow of a bear market, the liquidity of altcoins can dry up instantly. Although Bitcoin and Ethereum also experience a fall, at least they won't directly go to zero—this is the most basic risk hedging logic.

The market will never cater to those with a fragile heart; it won't give you advance notice when it's time to harvest. The key now is to calmly assess: is this adjustment a cyclical turning point or a washout continuation? Don't rush to conclusions; pay more attention to the data and listen less to the stories.