SpaceX is about to launch a massive IPO, and the large-scale fundraising will continue to drain liquidity from the secondary market, which is already tight. On top of that, last Friday's non-farm payroll data far exceeded expectations, with 172,000 new jobs added compared to the forecast of 88,000. Employment data for the previous two months was also revised upward. CME rate data now shows a 63% probability of a December rate hike, making rate cuts this year almost impossible. Short-term liquidity is unlikely to improve. Under the double whammy of these bearish factors, U.S. stocks saw a major pullback. The Nasdaq plunged over 4%, semiconductors collapsed across the board, and NVIDIA dropped more than 6% in a single day, wiping out over $300 billion in market value. At this point, it’s definitely necessary to prepare for risk management in your portfolio. That said, don’t get swept up in the market’s bearish sentiment. Acting out of panic can easily lead to mistakes. $BTC has closed red for six consecutive days, briefly dipping below the $60K level alongside the U.S. stock market pullback. However, it quickly bounced back to around $61K. There’s solid long-term support at this price level, and you can clearly see the strength of the support. Staying calm this time is all thanks to a well-divided portfolio: half in positions, half in $USDT. On one hand, there’s the worry of further declines causing unrealized losses, but on the other hand, there’s the hope for deeper dips to scoop up cheap tokens with idle funds. No more frequent short-term moves for now—just watching two key levels. If it really drops to $30K, I’ll gradually add to my positions. If it climbs to $90K, I’ll start taking profits and recovering my principal. The rest? Leave it to the market cycle. #Crypto #BTC #StockMarket #SpaceX #RiskManagement