Bitcoin is back at $94,000, while Ethereum is struggling around $3,000, and many frens' accounts are probably in the red again. But if we think calmly, is this pullback really a bad thing? Let's let the data speak and not be led by emotions.

**First, look at the market: Is this a pullback or a crash?**

At the beginning of this year, BTC opened at 93,000, now at 94,000, circling around and returning to the starting point. But have you noticed? The overall trend line has not been broken at all, and the total market cap has only retraced by 2%. It's true that altcoins have dropped sharply, but mainstream coins are holding up. In history, which bull market didn't have a few rounds of deep squats halfway through? This time, it's just filtering out those with excessive leverage and a floating mentality.

**What to do if you have coins in hand? Choose one of the three paths yourself**

**Already held**: If you can hold on, don’t move. A pullback of 10%-15% is very normal in a bull market; crouching down is to accumulate strength for a surge upward. Spot traders are the most steady at this time; chaotic operations can easily lead to being cut.

**Want to average down**: Don't just go all in! For example, if you are optimistic about BTC, invest 30% at 94,000, add another 30% if it drops to 90,000, and put in the rest when it really hits 85,000. Building your position in batches is the way to go; the main force fears this kind of rhythmic retail investor.

**Still on the sidelines**: Not in a rush to get in. First, put funds in stablecoin wealth management to earn 5% annualized return, and wait until the price truly breaks 100,000 to join in. Earning a bit less is okay; at least the principal is preserved.

**Two signals worth keeping an eye on**

On the policy front, the virtual asset ETF in Hong Kong has already been launched, and on the US side, regulation may ease after the elections—every time there’s good news, the market loves to shake three times first. On the technical front, on-chain Gas fees are currently at a low level, which is often a precursor to significant movements, and it can illustrate the situation better than candlestick charts.

To be honest, this round of market movement is exactly the same as the rhythm of the washout during past bull markets. Those who are panicking are cutting their losses and leaving the market, while those who are steady are picking up chips at low levels. What retail investors need to do now is: patiently wait for opportunities to arise, and when it's time to act, do so quickly and accurately. The market will not disappoint those who are prepared.