The wave of big cakes has fallen below the 70000 mark, and panic has risen again. In the afternoon, I mentioned that I wanted to dig deep into where the funds that ran away from ETF 18 went. Now, combined with the 4-hour trend chart, we have completely uncovered the main players' bottom cards! I have tracked the on chain movements and exchange wallet balances in the past two days, and the conclusion is very clear: the funds that were cashed out by Wall Street's sell-off did not really leave the market! The vast majority of this money has been converted into USDT and USDC, quietly sitting in off exchange accounts, which is an extremely typical strategy of "high-level distribution, off exchange machine". What is the main force waiting for? Waiting for retail investors to despair, waiting for high multiples of long positions to explode, waiting for a cheaper blood chip! Look at the picture! At present, the 4-hour level has just returned to the vicinity of the core upward trend line (blue line in the figure) starting from 60000. If we hold on here, it will be the starting gun for off exchange funds to re-enter the market. After washing up the car, we will continue to rush. Otherwise, once the volume falls below, this batch of off exchange funds will continue to patiently wait for the market to find liquidity around 66000 or even 63000 before taking action. Remember, the monthly chart has been bearish for 5 consecutive days, and the drop is enough. The support of 60000 yuan is also strong. We need to rebound here. If the indicators stabilize after falling, it will be a good opportunity to buy low!