#比特币价格与估值 When I saw this set of data, I was thinking about a question: what does the huge gap between the holding cost and the current price reflect?

BitMine's Ethereum unrealized loss is $4.1 billion, with a holding cost of $3,906, and the current price is $2,868. This is not just a simple numerical decline, but a textbook case about timing, positioning, and mindset.

I often tell everyone that the hardest part of investing is not choosing the right asset, but maintaining rationality amid long-term fluctuations. When you see such unrealized losses, someone might ask: why not cut losses at the high? But this question is asked backwards. The real question should be: when building the position, did they fully consider their capacity to withstand pressure?

Strategy's Bitcoin holdings still have an unrealized profit of 7.6 billion, but data shows that the unrealized profit is also narrowing. This reminds us of a simple truth — there is no eternal upward channel.

My advice is very simple: go back to the basic logic of allocation. No matter how volatile crypto assets are, their proportion in your overall assets should be something you can truly bear. If the current price makes you uncomfortable, it often indicates that your initial position was set too heavily. A long-term mindset is not passive waiting, but having room for adjustment in every cycle.

Time will give the answer, but only if you are still in the game.