According to Bloomberg, Kirill Kretov, trading expert of cryptocurrency trading automation platform CoinPanel, warned investors to be extra cautious in the current environment: the market is still fragile and easily manipulated. Retail investors have a sluggish activity and thin trading volume, and even the so-called smart money is on the sidelines. It is no accident that the power that truly has the ability to promote the market chooses to remain silent. Kirill Kretov believes that long-term Bitcoin holders who have experienced the previous cycles are still sticking to their positions and waiting for a higher exit price. This "selling reluctance" behavior has formed market selling pressure and aggravated the fragility of price volatility. Although volatility may clean up retail investors who hold excessive positions, he pointed out that only by "complete clearance" of long-term holders being forced to sell can we create a "pure stage" for establishing new positions for large investors. Before this, any rebound was full of dangers, which could induce impatient bulls to enter the market and then experience a drastic reversal – a typical bull trap in a low-liquid environment.