I just came across two messages, and my fren in the crypto world will probably have to suppress the idea of buying the dip after reading them—Washington and Wall Street are both taking action, and this wave of signals is even more alarming than the black swan on 10/11!

First, let's look at the first point: The U.S. House of Representatives has directly thrown out a tough measure, proposing to ban the president, their family, and congressional members from participating in crypto and stock trading. This is not questioning investment capability; it clearly shuts the door on 'the connection between officials and the market', evidently adding a policy gray rhino to the crypto world, and subsequent regulations will only become stricter, not looser.

The second point is even more heartbreaking: Wall Street giant S&P Global rated MicroStrategy, the "die-hard fans" of Bitcoin, a B grade. This is not an ordinary rating; it essentially puts a "high risk" label on them! Even MicroStrategy, which is heavily invested in Bitcoin and firmly optimistic about crypto assets, is getting cold water thrown on them by institutions. Essentially, Wall Street is shouting that it does not recognize the investment value of crypto assets and will not easily pick up the tab.

Putting these two points together, one can understand how difficult the current market is: The aftershocks of the black swan on 10/11 have not dissipated, and the repeated statements from Trump's team regarding crypto have made people anxious. Now, Washington has presented a cold blade of policy, while Wall Street has added a rating dampener. Under this double pressure, market sentiment is being pressed down and rubbed against the ground.

To be honest, don't expect institutions to come to the rescue in the short term: policies are undecided, and the ratings have dealt a heavy blow. Jumping in now is just becoming emotional cannon fodder. The most stable approach at the moment is to hold back, save your bullets, and wait for a real reversal signal to appear.

I have compiled a "policy + institutional movement" monitoring list in the past two days, which can keep a close eye on regulatory trends and institutional fund activities, helping to avoid potential pitfalls. Do you need me to send it to you for reference?