Bitcoin has dropped below $66,000 again today. Looking at the data, although ETFs are showing buying activity and both high-net-worth individuals and retail investors are exhibiting signs of buying, the price of BTC is still declining. More of this is driven by sentiment and liquidity factors. It feels like the bear market is really approaching. Diversified buying cannot offset concentrated selling. In fact, based on the data, the amount of selling isn't that significant. But it seems that most of the buying is passive—for example, myself, I’ve been accumulating around $60,000 rather than buying spot now directly. So, although I am providing some weak buying pressure, it’s mainly just slowing down the decline and not contributing to a price increase. This might be why the data looks good, but the price remains unfavorable.