#比特币市场结构变化 This change in the market structure of Bitcoin is really emotional. The entry of ETF funds has brought new buying support, but selling pressure from short-term holders remains. As an old leek who has experienced many rounds of bulls and bears, I can't help but think of the pain of being cut leeks back then. Now seeing JPMorgan Chase and Co. launch structured notes linked to IBIT is a wake-up call. These financial products may seem tempting, but they actually contain hidden risks. Remember, the market will never think you have too much money. Staying vigilant and managing risk is the way to survive in the long run. Novice friends should keep their eyes open, don't be fooled by the gorgeous packaging. Institutional admission is a good thing, but it also means that the rules of the game may change. Staying independent and not blindly following is the secret to living a long life in this market.