I strongly agree with the viewpoint mentioned by Guilin Brother @ Guilin_Chen_, that is, at this stage, the anchoring of STRC can be seen as a limit test of the market. The detachment of STRC has temporarily lost its financing ability, and the timing of its subsequent return to anchor will affect the market's concern about whether MSTR will "sell coins" again. Last time, MSTR only sold 32 BTC - although I think this is more like a disguised expectation management without actual selling pressure - but it shattered the psychological defenses of some long-term investors. On the second day of MSTR's announcement to sell coins, LTH's net holdings began to decline. The speed of distribution exceeds the speed of LTH accumulation+TSH conversion, indicating the ferocity of potential energy. The market, which was originally in a weak supply-demand balance, was disrupted by the sudden excess supply, which also contributed to the rapid decline of BTC from 7.4w to 6w. So now the whole market is paying attention to the "STRC de anchoring" event, which is essentially highly sensitive to whether MSTR will continue to sell coins. If there is another large-scale distribution of LTH, it will be impossible to meet the current market demand. On the other hand, whenever the market experiences a series of stampedes, the liquidity generated is most suitable for large funds to collect chips. So, when negative news is released but prices become increasingly difficult to hit, it means that some kind of extreme testing is almost over.