Do you remember when BTC was 70000? Now it's more like that stage, fluctuating at high levels, unable to break through new highs multiple times, killing the next wave, and then reaching new highs. What is different now from before is that there was an expectation of interest rate cuts, but now interest rate cuts have been implemented, and even if inflation rebounds in the middle, interest rate cuts will be suspended. This is the biggest change at the macro level. Another variable is Trump. Trump is a very fickle person, and the sudden introduction of various policies often leads to a sudden drop in the stock market. However, if you really short, you will also be hit one by one. This is the reason why intraday options have been difficult to do recently. The tariff policy also has a significant impact on the world economy, and what's even more difficult to deal with is that his policy changes day by day, so the changes are very fast.