Interesting market pattern discovery. Between 8-9 PM every evening, which coincides with the active hours of US traders, the market often experiences significant fluctuations. This actually reflects the timezone coordination effect of the global crypto market—when the Asian market gradually hands over the baton and European and American institutional traders take over, trading volume and volatility tend to spike sharply.

This phenomenon is worth paying attention to, especially for short-term traders. The daily performance of mainstream cryptocurrencies like Bitcoin and Ethereum often shows key breakouts or retracements during this time period. From a technical perspective, large orders flooding in and liquidity redistribution become more frequent at this time.

Of course, we should not overlook macro-level drivers. The Federal Reserve's repo plan, discussions on BTC strategic reserves, and regulatory cooperation movements between the SEC and CFTC—these policy signals are also released during the US trading hours, further amplifying market reactions. Coupled with the ongoing expansion of the RWA track and the resulting capital flow changes, the overall market structure is quietly adjusting.

So rather than speculate about 'conspiracies' behind market dumps, it’s better to understand the essence of these time patterns—they all stem from the real rotation of global liquidity and trading participants.