The beginning of December faced a plummet, with the liquidation amount exceeding 300 million within an hour. This kind of fall indeed caught many people off guard.

Looking back, the signals have actually been there for a while. Policy tightening news from certain regions was released in advance, but the market reaction was delayed, with the sentiment accumulating over the weekend and erupting in the Asian session on Monday. More critically, the hawkish remarks from the central bank governor in Japan directly ignited the market's selling sentiment.

From the traces on the market, this rapid drop has obvious characteristics of institutional operation - the rhythm is orderly and the force is fierce. Retail investors have basically no ability to resist in the face of such a level of volatility. The selling pressure during the Asian trading session is particularly concentrated, and many people have already been buried before they even reacted.

Next, we need to observe the performance after the opening of the US stock market in the evening. If there is no continued panic selling, there might still be room for recovery. However, in such a market situation, staying calm is more important than chasing gains or cutting losses.

To be honest, the short position opened around ETH 3000 yesterday directly captured a profit margin of 1000 dollars. The rebound a few days ago indeed seemed more like a trap for the bulls, and it seems my judgment was correct.

In the short term, you can pay attention to the trends of ZEC and MON, there may be new opportunities.