In the past few days, I have been trying to re-evaluate $BTC . It was quite embarrassing that the last drop was unexpected by many institutions. They are starting to realize that $BTC needs a foundation; otherwise, all models will lose meaning. The involvement of IQMM makes me feel perplexed; to have a foundation, we must be shackled. All of this points to the intentions of the institutions, which is that in the future $BTC will become the most important underlying asset in the cryptocurrency world. However, as a high-beta asset, it can only be the first canary to be abandoned in the event of a crisis from the underlying asset package. As Musk said, people often sell the easiest to sell, rather than what should be sold when a crisis strikes.