Here’s a question, not sure if you all have noticed: 1. The clearing volume of $BTC is getting lower and lower. From over $1 billion at the beginning of the year, to $600M+ in April-May, and now only $200M-$300M. 2. On mainstream exchanges, the top contract trading volumes are dominated by U.S. stocks, gold, silver, and crude oil. 3. For U.S. stocks, we’re seeing hot, high-volatility stocks like MU, SNDK, SKHYNIX, and SPCX attracting massive attention. Their big price swings bring more liquidations and wipeouts. So, have you noticed? During crypto’s winter, exchanges are introducing U.S. stocks, gold, silver, and crude oil to drive more traffic, further diverting the already limited liquidity in the crypto space. For exchanges, this means more traffic and trading volume. But for crypto, it means reduced capital inflow, less attention and support, more boring sideways movements, and potentially more extreme volatility. This is why I don’t think we’re at the bottom yet. $BTC’s support is way too weak right now. In the past, when people bought the dip, it was mostly $BTC and $ETH. Now, there are way more options, including U.S. stocks and even Hong Kong stocks. Plus, stocks are draining more retail investors’ funds. This weakens $BTC’s support even further, making it more vulnerable to manipulation or a black swan event, which could lead to an even scarier drop.