Retail investors are currently trending towards panic selling Bitcoin and shifting to holding USD not because they see greater opportunities but mainly due to a risk-averse mentality when the market is highly volatile and unpredictable. When Bitcoin rebounds, they no longer have the buy the dip mindset as before but shift to sell the rip, meaning that when prices rise, they take the opportunity to exit to preserve capital. This reflects a weakening market confidence, especially after sharp declines that have trapped many traders. However, it is noteworthy that while retail investors are panic selling, large funds and institutions are quietly observing and accumulating at reasonable price levels. Therefore, the current market is not necessarily crashing but is in a tug-of-war state, where the emotions of retail investors clash with the strategies of the whales — and often in this game, the patient ones are the winners.
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