After observing for 2 days, so far, under the macro bearish expectations of October 15, the realized loss scale of BTC based on actual metrics has not exceeded that of October 9. In other words, the relative relationship of '3 greater than 2, but less than 1' can be confirmed. This means that when BTC touches the psychological threshold of $80,000 for the third time, the number of 'swing traders' who are price-sensitive and willing to sell at a loss has decreased. Of course, we can't fully confirm that this is the bottom range of the current phase yet. But one thing is certain: as long as we see fewer 'swing traders' each time, the closer we are to the bottom. In the current overall not-so-optimistic macro environment, I personally believe that BTC's unique token structure attributes will behave differently compared to other risk assets.