#Strategy加仓BTC The wave of Bitcoin plummeting on January 19th was truly frightening—within two hours, it dropped from $95,400 straight down to below $92,000, causing the entire network to scream in panic.

The craziest part was a single liquidation on a derivatives platform worth $25.83 million, which equated to 280 BTC instantly vanishing. Leveraged longs were completely wiped out, and this kind of scene always makes headlines.

But here’s the interesting part—the market didn’t panic and sell off after the crash; instead, a group of traders started "adding leverage on dips." The data shows that the total open interest in contracts actually increased to 663,900 BTC, up by 14,000 BTC from the previous day.

From another perspective, it means a large amount of capital is choosing to add positions at low levels, betting on a rebound. This "adding leverage while falling" situation actually reflects a very contradictory market sentiment: short-term, there’s a real risk of liquidation and panic, but long-term, many are still optimistic. Some got caught in the stop-loss, while others are bottom-fishing. The market is always like this—opportunities and risks often come down to a single decision.