Today, there was a noteworthy move before the market opened - a global asset management giant suddenly closed all positions on approximately 2,150 Bitcoins, which is about 185 million USD at the current price.

The timing is very delicate, just right before Federal Reserve Chair Powell begins to speak. Institutions of this level typically do not massively reduce positions at critical moments without reason; either they have received some advance news, or they are not very optimistic about policy expectations.

To be honest, this round of operations is indeed somewhat perplexing. The moves of traditional financial giants are often half a step ahead of retail investors. They are pulling out; should retail investors follow? Or is this just a routine risk hedge?

In the short term, market sentiment has begun to tighten. In the next few days, we may need to keep a close eye on the market to see if there are any other large players moving.