From a technical perspective, BTC currently faces significant downside pressure. It is expected to break below the $80,000 level in the short term, with a further possibility of plunging into the $60,000 range, and in extreme cases even approaching $50,000—this price level is close to the current mining cost line. Based on this assessment, the mid-term strategy leans towards continuously building short positions while managing risk exposure.

ETH's long-term outlook remains full of potential. As the asset onboarding process accelerates, the entire traditional financial system may gradually migrate onto the blockchain ecosystem. ETH, as the underlying infrastructure support, has a 20-30x growth potential over a 5-10 year horizon. However, in the short term, it still needs to follow BTC's rhythm and currently does not justify shorting.

SOL has established some short positions at the $130 level, maintaining cautious observation. Short-term opportunities for other altcoins are relatively limited, but FORM is worth paying attention to as a long-term positioning.

In traditional assets, the fundamental logic for gold and silver remains unchanged, with a focus on low-level long positions. Regarding US stocks, due to the index adjustment pressure, SQQQ has been allocated as a hedging tool, using triple leverage to short the NASDAQ to balance portfolio risk.