Recently, the Crypto Assets market has experienced a wave of falling prices, but from a technical perspective, this seems more like a pullback driven by the futures market. It is worth noting that the Spot market has not shown a significant increase in Trading Volume, and the Spot premium has not dropped significantly, indicating that the current decline mainly stems from the movements in the futures market.

Observing the open interest in the futures market, it can be found that even though the price has pulled back to around $114,000, the open interest in futures remains at levels close to the previous $118,000 to $119,000. This situation indicates that there is excessive open interest in the market, and a rebound can only be expected after the positions are gradually closed. This also indirectly reflects that during the previous $124,000 high-level fluctuations, there was excessive chasing of highs and cutting of losses in the market.

Although the current market trend may cause some investors to worry that the bull market is about to end, it is important to recognize that the formation of a market top is usually a gradual process rather than an event that occurs in the short term. In the coming period, we are likely to continue to see significant fluctuations in prices within a high range.

For investors, it is especially important to remain calm and rational at this time. Overreacting to price surges and drops can lead to greater risks, while rationally analyzing market trends and paying attention to fundamental factors is a wise way to cope with market volatility. At the same time, one should also be alert to potential risks, manage positions reasonably, and ensure proper risk management.

Overall, the current market adjustment provides investors with an opportunity to reassess their investment strategies. In the context of potential fluctuations at high levels, flexibly adjusting strategies to balance risk and return may be a wiser choice.