A drop of 10,000 points! Is the Bitcoin bear market returning? Where will it fall to? Let's take a look. 1. As shown in the chart, Bitcoin's downward pressure remains very strong because in a week there is still a Federal Reserve meeting where no rate cut is expected. It is anticipated that the price will weaken further before the meeting. Where can we re-enter short positions? 2. Currently, the $BTC resistance levels are at 9.07 and 9.16. Once these levels are reached, you can short for a quick rebound. If you haven't previously set up long-term short positions, you can also gradually build them. 3. For those who already shorted with BenQin at 9.8, you might consider taking partial profits when Bitcoin drops again to the 87,000-88,000 support levels, and hold the rest until the Federal Reserve interest rate decision. 4. Actually, we've discussed the Fed's rise and fall logic five or six times over the past few weeks because if the Fed doesn't cut rates, the price tends to weaken near the meeting. I also said I would start building short positions two weeks before the meeting, which is the 14th, two weeks before the 29th. At that time, Bitcoin was exactly at 98,000, no mistake. 5. So, this rally before the rate decision is truly a gift, giving us such a high entry point. Now, having already dropped 10,000 points in the short term, a small rebound is expected. Therefore, if it rebounds to around 9.07 and 9.16, I will short for a quick play. 6. I am quite satisfied with this month's profit. As shown in the chart, a profit of 10WU, some positions are still held without taking profits, with a risk-reward ratio of 10:1, and a win rate close to 90%, similar to last month. I am very pleased. Let's keep up the good work and carefully execute each trade~

There are many reasons for the recent wave of declines: escalating trade disputes between the US and Europe, tense geopolitical situations, and fluctuations in the Japanese bond market. These factors have dragged down global risk assets, and Bitcoin and other mainstream cryptocurrencies have also been affected. Interestingly, traditional safe-haven assets performed remarkably well—gold hit new highs, silver followed closely, while the crypto market continued to decline. This contrast itself reveals many issues: when macro risks emerge, the market treats cryptocurrencies as risk assets rather than safe havens. No matter how good the words sound in normal times, in a crisis, some still run to traditional safe harbors. Also, pay attention to an important speech around 9:30 PM tonight at the Davos Forum. This brother has always been unpredictable, and no one can guess what he will say next. Market fluctuations are generally within expectations. Everyone should prepare psychologically and manage risks accordingly.

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