Today's key points: First, watch whether ETH can recover relative to BTC, and avoid mistaking a single-coin rebound for a broad-based recovery. Second, check whether the rebound is accompanied by higher spot trading volume; be cautious if prices rise without volume. Third, watch trading costs, as increased volatility may cause slippage to eat into expected returns. My principle: define invalidation conditions first, then decide on position size; don't rely on leverage to compensate for uncertainty in your judgment. This is an observation framework, not a buy or sell signal.#市场观察 #Risk management