How much pressure is there? Just look at Tom Lee @fundstrat. After weeks of consecutive price drops, Dr. Tom @fundstrat offered the reasons: 1. AI chip stocks, along with Nvidia and NVDA, were hammered, forcing Asian retail investors to sell their cryptocurrencies to cover losses; 2. The upcoming IPO of @AnthropicAI is a drain on the stock market, prompting investors to sell other assets to raise funds for the IPO. Robinhood retail investors also have a large allocation, leading some to sell their cryptocurrencies to participate in the IPO; 3. The $6.3 billion stolen from Binance has returned to users, many of whom have directly converted it into cash and stablecoins. Another minor point: A÷'s roadshow repeatedly claimed that AI can penetrate all network defenses, making everyone wary of any digital asset. Conclusion: The headwinds will pass, and this crypto supercycle is larger than ever before. While I occasionally tease Tom, I still hope he can pull through. Perhaps this is just the last darkness before dawn!