BTC market fluctuations are magnificent, but the global stock markets are singing a different tune. The continuous sell signals over the past half-year are hard to ignore, and the institutional cash ratio dropped to 3.3% in December— a new historical low.

Speaking of which, Bank of America (BofA) had already provided a reference line: cash ratio ≤4% should ring alarm bells. And cases below 3.6%? Since 1998, this has only happened nine times. Whenever institutional cash becomes this tight, the subsequent monthly average decline is around -2%.

The current situation has a bit of a fire-starting vibe—institutions are nearly drained of their cash pools, entering the market bare. With January approaching, the market is very likely to turn into a meat grinder. Don’t be fooled by various "bottom-fishing" narratives; when liquidity tightens, a pullback often occurs at the turning point.

If you still have some bullets left, holding on might be the smarter choice now. Don’t become the bag-holder. Mainstream cryptocurrencies like ETH and SOL are also facing the same rhythm pressure.