When Bitcoin dropped below 60000, the Chinese Internet howled: "The encryption industry is over" and "regulation is coming to kill the door". At the same time, over 200 American cryptocurrency companies are writing letters to the Senate - not begging for mercy, but urging them to legislate quickly. Hurry up and give us a legal identity, don't delay. This is not something that an industry that is about to collapse can do. But the most interesting thing is the timeline: on the day when the panic index was 8, Senator Lummis said, 'We won't give up 5 yards away from the front line.'. The K-line chart is lying in the ICU, and the legislative machine is accelerating. More than 200 institutions, 3 million mobilized supporters, and bipartisan approval by the Senate Banking Committee - the size and speed of this political machine are completely unrelated to the 24-hour fluctuations in the cryptocurrency industry. Most people are anxious about whether they will fall tomorrow, while those who are truly changing the fate of the industry are anxious about whether they can vote before the next session. When the market is at its most panicked, the most valuable ability is not to buy at the bottom - it's to look up and see what's happening outside the candlestick chart.