#比特币价格走势 Seeing this wave of regulatory risk alerts, I feel a bit more cautious. We have played out this script four times already—after the 2013 ban, Bitcoin dropped 30%; after the 2017 ICO ban, it briefly fell to $3,000; in 2021, miners' power was cut off... Each time, a storm was brewing, and the market was desperately searching for direction amid panic.

But this time is a little different.

In previous rounds, domestic funds were still the main players, and a single ban could trigger chaos. Now? Wall Street ETFs, institutional holdings, and global consensus have become the stabilizing forces. This time, seven major associations have named stablecoins, RWA, and air coins. USDT has experienced negative premium, and indeed some are rushing to exit, but Bitcoin itself hasn't shown any obvious abnormal movements—what does this mean? It indicates that the pricing power has shifted to the West.

What we should truly be cautious about is not whether Bitcoin will crash again, but the concepts that are being targeted. Hot sectors like air coins, RWA, and stablecoins are being delisted one by one. I’ve seen too many people rush into concepts during their hype, only to be repeatedly harvested by market manipulators. The timing of regulation is very clear—it always strikes when the concepts are overheated and prices peak. The patterns of 2017 ICOs, 2021 mining, and the upcoming 2025 stablecoins and RWA are all here.

If you are still in these targeted sectors, now is not the time to ask "Will it continue to rise," but rather "Where is my exit." History shows us that those who survive the storm are the ones who recognize the direction in time and make early moves.