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Cryptocurrency trading automation platform CoinPanel trading expert Kirill Kretov warns investors to be extra cautious in the current environment. At present, the activity of individual investors is low and the trading volume is thin, even the so-called smart money is on the sidelines. It is not accidental that the forces that truly have the ability to drive the market choose to remain inactive. Kirill Kretov believes that long-term holders of Bitcoin, who have gone through the previous cycles, are still holding onto their positions and waiting for higher exit prices. This "reluctance to sell" behavior creates market selling pressure and exacerbates price volatility vulnerability. Although volatility may cleanse retail investors of excessive holdings, he pointed out that only a "complete liquidation" where long-term holders are forced to sell can create a "pure stage" for large investors to establish new positions, and any rebound before this is full of danger. （Bloomberg）