Breaking below 100,000, I believe everyone is feeling anxious and panicked.

Due to the "government shutdown" causing data delays, everyone is visibly fearful of the uncertain market before Thanksgiving. As a result, almost all assets such as U.S. stocks, Bitcoin, gold, silver, the U.S. dollar, and bonds have experienced a rare phenomenon of synchronized decline.

Typically, safe assets like the dollar, gold, and bonds move inversely to stocks, but as mentioned above, all assets are declining together — a situation that has rarely occurred in history.

I pondered all night about ETFs and epic legislation, as well as QT.

With so many positive factors, why is it falling so much? Why are they being so ruthless?

Finally, the God of Wealth came to a realization.

✅ The purpose of this wave of violent selling is very clear:

Large funds are forcibly cooling the market, clearing leverage, and forcing "weak institutions" to give up their holdings. When sentiment is overheated, capital is excessive, and leverage is too high, the market needs a one-time squeeze to cause high leverage liquidation, eliminate speculative positions, and bring prices back to a safer range. The synchronized decline indicates that this time the ones being hurt are not retail investors, but even some institutions are passively selling, with the forces behind them draining their liquidity, making them unable to resist. When these "weak institutions" are pressed to the point of suffocation, the real smart money will buy in at the bottom at low prices, accumulate heavily, and rebuild positions to pave the way for the next round of market trends.

✅ Therefore, I feel that the essence is: reshuffle → reset → rise again. What is being drained are the weak institutions, and I believe the true "big player institutions" have not yet entered the market.

In conclusion, I believe that large institutions are not afraid of small institutions making money, but rather are afraid of "market loss of control." Wall Street, large funds, and sovereign wealth funds, these "top players", are most afraid not of others making money,

✅ Large institutions want to control the distribution of holdings and regain control of the market rhythm.

When these epic positive factors emerge in concentration, and ETF incremental funds are about to enter the market, large institutions must ensure that the holdings are in their hands, not in the hands of weak institutions or retail investors.

Finally, I have a premonition that the future price of Bitcoin will become increasingly frightening, and it feels like it will no longer be something that retail investors can afford.