Last night, Bitcoin suddenly plummeted, and many people were staring at the Candlestick in a daze—was this fall too sudden?

But the market never plummets for no reason. On the surface, it appears to be a technical collapse, but in reality, there is an issue with the funding.

The trigger this time? U.S. Treasuries.

The TGA account of the U.S. Treasury is about to run out, and the government shutdown crisis is exacerbating the funding situation. At this moment, a $163 billion U.S. debt auction is directly draining a large amount of liquidity from the market. Risk assets are instantly "anemic", and Bitcoin naturally bears the brunt.

What’s more deadly is the Federal Reserve's hawkish stance. December rate cut? The market was originally still holding on to fantasies, but was doused with a bucket of cold water. The expectation of capital inflow has been shattered, and the selling spree comes just like that.

But thinking calmly: is this really the end of the world?

Liquidity is like the tide. A rapid retreat often means a stronger return. A plummet is an opportunity for chip turnover, and panic is the signal light of emotions.

Those who truly understand the flow of funds do not blindly chase prices in chaos, but instead look for layout windows amidst the fluctuations. They do not bet on direction, but follow the funds. When the signal of liquidity returning appears, opportunities naturally surface.

The market is always full of volatility, but what it lacks is people who can understand the logic behind the fluctuations. This round of adjustment may just be the starting point for the next wave of market activity.

Walking fast is not as important as walking far; understanding the market rhythm is more important than chasing hot trends.