The recent market trend is indeed quite interesting. The US announced a third-quarter GDP annualized growth rate of 4.3%, far exceeding the market expectation of 3.3%. Logically, this should be a positive signal, but Bitcoin has instead retreated from its highs, currently oscillating around $84,000, and Ethereum has fallen to about $2,900. This "better economy, worse crypto prices" contrast has really left many scratching their heads.

Thinking carefully, the root of the problem lies in interest rates. With such strong economic data, the Federal Reserve has more confidence to maintain high interest rate policies, and expectations of rate cuts will be further delayed. What’s the result? A large flow of funds into fixed-income assets like government bonds, and no one wants to hold onto assets like Bitcoin that do not generate interest. This is a typical "risk assets being neglected" phenomenon.

From market sentiment, the fear index has already touched a low of 24. Over the past day, the total liquidation amount across the entire network reached $250 million, with long positions contributing $205 million. It looks like a scene of widespread despair.

However, there is a detail worth noting — on-chain data shows that some institutional investors are quietly accumulating. A well-known analysis firm absorbed 67,900 ETH within 24 hours, with a transaction value of about $200 million. This precisely indicates that truly capable "smart money" is not panicking but instead viewing the decline as a rare opportunity to deploy. The market sentiment and institutional actions form an interesting contrast — retail investors are fearful, while big whales are lurking.