Bitcoin is indeed at a crossroads at this price level. From the daily chart, the key support is under test, but the sluggish trading volume is concerning. This is a signal — the bulls' willingness is waning.

The situation for small-cap coins is even more perilous. Honestly, many altcoins and established coins like Ethereum haven't seen substantial fundamental improvements; they are entirely driven by market sentiment. Once Bitcoin loses this line of defense, the damage caused by these follow-up traders can often be more severe than that of mainstream coins.

But here’s a common trap to watch out for — don’t get blinded by the opportunity to short. The emotional swings in the crypto market are quite bizarre; sudden positive news can instantly reverse the situation, and shorts can easily suffer losses if not careful. My recent approach is to take small positions to test the waters, strictly control risk exposure, and never go all-in. Maybe the returns aren’t the biggest this way, but surviving to see the next opportunity is what matters most.