Now, let's take another look at what happened in October 2025.

It's not really the cryptocurrency market itself that had the problem; it's the liquidity of the entire financial market. The SOFR rate suddenly surged, causing a dollar shortage in the market, and institutions had to sell off crypto assets to emergency. This led to a continuous decline starting in October.

The bull market was doing well, and then suddenly it was gone. The Federal Reserve's balance sheet reduction went too far, which is also why they are now urgently injecting liquidity. There is a reason why Powell is called "Mr. Too Late."

On the 31st of last month, an emergency additional $70 billion was injected, and more is expected this month. After the 15th, the market's perception of liquidity will become even more apparent. Brothers, hold on, stay strong.