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Breakdown and capital flight: mainstream cryptocurrencies enter the phase of 'distilling the genuine from the false'

The recent trends in the cryptocurrency market perfectly confirm the iron law of 'breaking down, stabilizing, and then recovering.' From $BTC , $ETH to $BNB , three core assets collectively lost key support levels, and market sentiment shifted from hesitation to panic, with capital voting with its feet, accelerating towards assets that have 'real orders, performance, and institutional endorsement.'

From the daily chart, the three mainstream assets show a clear breakdown and downward trend:
- BTC: From nearly $100,000, it plunged to a low of $71,888, breaking below the lower Bollinger Band ($71,975), with a 7-day decline of 18.50% and a 30-day decline of over 22%, completely breaking previous consolidation ranges.
- ETH: The trend is even more brutal, plummeting from above $3,400 to a low of $2,076, with a 7-day decline as high as 28.54% and a 30-day decline of over 32%, directly halving its value, severely damaging market confidence.
- BNB: As the leading platform token, it also failed to remain unscathed, dropping from a high of $959 to $687, with a 7-day decline of 22.93%, breaking below the lower Bollinger Band ($700), temporarily invalidating the safe-haven attributes of platform tokens.

The sharp increase in trading volume confirms the panic in the market. A large amount of leveraged capital has been forcibly liquidated, and a stampede sell-off has led to liquidity exhaustion, further exacerbating the downward trend.

The drastic adjustment in the market is essentially a profound style switch. Against the backdrop of tightening regulation and institutional capital 'having the upper hand', the market is shifting from 'speculating on concepts and telling stories' to 'focusing on performance and grounding.'

- Capital flow: Funds are withdrawing from overvalued, purely narrative altcoins, concentrating on top assets like BTC and ETH, as well as compliant tracks with clear revenue and orders (such as RWA, on-chain clearing, asset custody).
- Low position is king: The cost-performance ratio of low stock prices (coin prices) has become the core consideration. Logic from data centers, lithium battery resources, low-position robots, etc., in A-shares is equally applicable in the cryptocurrency market—only those assets with low positions, solid logic, and sustainable performance verification have the opportunity for recovery rotation.