The current chip structure is also very healthy, and it is clear that early investors have almost not participated in the turnover. My feeling is that at lower prices, it is becoming increasingly difficult for investors to part with their chips. Looking at Bitcoin data, the price decline has led to an increase in trading volume and turnover rate, but it is also obvious that those participating in the turnover are mostly short-term investors who bought and sold in the past two days. Investors with a holding cost above $70,000 or below $60,000 have not shown significant changes, indicating that more investors are actively or passively moving towards long-term holding. A rebound to around 64,140-64,630-65,400 can be shorted, with targets around 62,300-60,000.