BTC dropped 33%, ETH dropped 40%. It only took 9 days from January 28th to now—way too fast. A lot of people didn’t even have time to react, and it’s already fallen to 60k. Those who were shouting about buying the dip at 60k earlier, now’s the time to show your strength! Looking further down, the next support is around 53k. As a seasoned trader, it’s rare to see such a sharp drop. Even though the U.S. stock market didn’t drop much yesterday, institutions holding BTC and ETH had no choice but to sell at a loss to avoid liquidation. Yesterday, ETFs saw a net outflow of $434 million, and in the past three days, the outflow reached $1.251 billion. It’s still unclear if this is the bottom. If the price doesn’t drop further, it’ll likely consolidate until after February 15th. One key point is that the U.S. stock market hasn’t crashed yet… If it does, the crypto market will be even more brutal. The rebound to 60k is just a short squeeze; there’s no sign of real buying. For now, all we can do is patiently wait for the bottom to appear. If you’re considering buying spot at this level, I think it’s okay to start buying bit by bit and set up a dollar-cost averaging plan.