(This article only reflects market observation perspectives and does not serve as investment advice.)

In the current wave of tokenization, understanding the operational logic of the crypto market is becoming increasingly important. I would like to share some market observations from several dimensions.

**BTC's "Lighthouse" Role**

BTC plays an absolute leadership role in the entire crypto market. Its rises and falls directly determine the overall liquidity direction of the market. When BTC is strong, capital effects naturally propagate to mainstream coins; when BTC is under pressure, even the best projects find it hard to stand alone. ETH occasionally breaks this pattern, but the vast majority of coins still cannot escape BTC's control.

A practical observation angle: pay attention to the seesaw relationship between BTC and USDT. When a large amount of funds flow into stablecoins, it often indicates the market is stepping on the brakes, and a significant correction may follow; conversely, when BTC suddenly surges, it might be time to take profits.

**Trading Rhythm in the Time Dimension**

The volatility of the crypto market shows clear regularity at different times. The window from 0-1 AM is prone to "spikes," and setting reasonable support orders during this time can provide opportunities to position at better prices.

The 6-8 AM window is a key indicator period. If the decline in the first half of the night continues to expand during this time, it usually signals a clear trend, and you can continue to add positions at low levels; on the other hand, if a rebound begins, caution is needed regarding high-level risks.

Around 5 PM is the active period for US funds, and volatility during this time often creates new highs or lows, requiring special attention to changes in market rhythm.

**The Weight of Information**

News has a much greater impact on the crypto market than traditional finance. Sudden policies, exchange movements, large transfers—these can all trigger price fluctuations. The market is filled with various predictions and labels, but what truly changes direction is often sudden substantive news. Learning to distinguish noise from signals is a fundamental skill for survival in the token market.