The cryptocurrency market is truly an anti-human market: when institutions enter with $BTC , it becomes a signal of a peak, and retail investors keep trying to buy the dip, only to go deeper.

The essence of the cryptocurrency market is a zero-sum game of stock game. Everyone is stubbornly holding on, and funds cannot move. Only when enough people really leave can new liquidity come in.

Advising people to cut their losses is indeed saving this industry, although it sounds very counterintuitive. The A-shares at least have fundamental support, and precious metals have intrinsic value; most of the time, the cryptocurrency market is just a pure game of passing the buck.

Too many people treat the cryptocurrency market as a belief and refuse to leave. The result is that everyone suffers from chronic losses, and no one makes money. Sometimes, admitting defeat and exiting requires more courage than stubbornly holding on.