Odaily Planet Daily News: Honest Mr. Mai posted on the X platform that he had fully liquidated his holdings around the September rate cut and continues to be bearish on the market. He believes liquidity will not improve this year and maintains a bearish outlook. He will only start to accumulate long-term positions after three conditions are met:
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Absolute large-volume turnover transactions (surrender) appear in the secondary market;
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The MVRV-Z score drops below 0, currently at 0.77;
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Events similar to the FTX incident or BCH fork, such as a “BTC surrender” event, occur.
He stated that he is prepared for a further 40-50% decline in the market and will go all-in once the above conditions are satisfied.
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