Today, the lowest point has already fallen below MSTR's cost basis of $76,000, but it has not yet broken the mNAV. If it breaks below, it might be worth considering. Generally speaking, unless there is a fundamental change, a rebound is likely if liquidity recovers on Monday. I'm not sure if that will happen, but I have personally bought the dip. This price is still attractive to me. If it falls below $70,000, I will continue to buy. Today, I was also telling my friends that the average cost of Bitcoin in US ETFs is around $70,000, and if it drops below $70,000, many miners will also shut down.

Looking at the data for Bitcoin, the price has fallen quite sharply, and the turnover rate is also high. Especially with so many large turnovers, it is very likely that they started during the US trading hours. We still don't know the attitude of Asian investors in the morning. If Asian investors panic again, it could lead to another big liquidation. The key is to watch Monday.

The lowest point in the past year after the rise is April 7th at $74,400. Let's see if this level will be broken. But from the perspective of the chip structure, it is still relatively stable, and there is no sign of panic among most investors. The actual selling is mainly from short-term investors.

In the short term, a pullback to 74720-73220 can be used to add positions. The rebound target can be around 78800. For long-term positioning, a decline to 67188-66830 can be used to add positions, with a target around 72700-80000.