$BTC This round of $BTC plummet is really not just a simple technical pullback.

First, let's look at the data: the Bitcoin quote from a compliant platform is 3% lower than the Asian market, with a difference of two thousand dollars per coin. Even more astonishing is the plummet time—always during the late night of the Asian trading session. The gains made during the day are taken away by a wave of American capital in the early morning.

Old miners who have held coins for seven years are collectively selling off at this point. Do you think it’s just a simple profit-taking? Just look at that report from Fidelity to understand. By the end of the year, high-net-worth individuals in the U.S. are locking in paper losses through crypto assets to offset that year’s taxes; they will buy back their positions when the market is low next year. This "tax-loss harvesting" strategy treats retail accounts as tax-saving tools.

Speaking of liquidity. During the federal government shutdown, the treasury account inexplicably saw an increase of tens of billions in surplus—funds that should have flowed into the market vanished into thin air. What was the result? Crypto-related stocks plummeted 20% in a single day, and the entire market seemed drained of blood. Once the funding faucet was turned off, no matter how strong $BTC is, it has to lie down.

Looking at these three actions together: price arbitrage harvesting Asian premiums, tax strategies locking in low-priced chips, and liquidity traps creating panic. This is not a conspiracy theory; it is a solid capital operation logic.

But there is another side to the story. While American capital was withdrawing, Asian funds were quietly accumulating. When market sentiment is at its most fearful, it is often a window for reallocation — provided you can see through the underlying rules of these capital games, rather than following emotions to chase rises and falls.

The current market is being torn apart by various negative news. Will you choose to be the passive buyer, or will you be the player who understands the game?