Is 6.95 USDT not appealing? Why are some people selling?

In fact, buying USDT to exchange for USD and then converting it into RMB can earn a 2% profit!

Many people attribute the reason to: the latest policy issues.

Maybe, but I think this is definitely not the main reason.

Imagine, strict control over OTC and C2C withdrawals, this is when it forces people in the crypto space to make a choice: to hold USDT or RMB in the future.

At this time, if one predicts a big bull market in the crypto space, then the number of people permanently holding USDT will continue to increase, and some may even continue to buy USDT; at this point, if you don’t buy now, you won’t be able to buy later, and the price of USDT will actually rise.

The reality is that most players in the crypto space are voting with their feet, choosing to convert USDT to RMB, and even at a discount, they want to escape, which shows that most people have no confidence in the 90,000 BTC and are clearly in favor of continuing the bear market.

In other words, we are far from the bottom of the crypto market.

Finally, let me share my thoughts: so when will it actually hit the bottom? My thought is that when several crypto vaults can't stand it anymore and all have to cut losses and exit, that’s when the cycle bottom will appear. So do not try to catch the bottom anymore; entering the market now equals paying for the ancient profit-takers.