1. I think the big drop is due to the market's reaction to Powell's speech, which has led to a collapse in liquidity, but more importantly, the feedback that Mstr will not be able to continue purchasing BTC in the short term, as indicated by the outflow of BTC ETF, and this uncertainty may last until January. 2. The situation for is very complex, with most market makers likely not doing anything yesterday.

A small number of project parties provided buying liquidity and absorbed the selling orders, so there was basically no decline. A small number of market makers with strong consensus made a T, and those who took on the rebound at the bottom were the most violent. This wave can basically show who really has a consensus and who is pretending to have a consensus. The subsequent differentiated market will focus on the projects that really have a consensus.

Generally speaking, after a big drop, most players will feel more fearful, so they will consider selling if the price returns to the original position after buying the buy the dips. This wave of BTC's decline basically shows that the mainstream market since the election has ended and has entered the stage of counterfeit fighting. In this case, PvP will be more serious, so you have to think carefully before making a move.