The wave of market activity in the early morning was indeed stimulating. Bitcoin plunged nearly 4% within an hour, instantly erasing over $4,000 in market value, and the total liquidation amount across the network also surged. Market sentiment clearly became tense, with both bulls and bears fiercely battling at this point. Everyone is asking—Is there still a story in the bull market? Should we run now, or hold?

In fact, this decline is not exclusive to the crypto space. Global risk assets are under pressure. Geopolitical tensions, macro policy uncertainties, and traditional funds urgently withdrawing from high-risk positions have all contributed. As the most volatile asset class, cryptocurrencies naturally bear the brunt. This correlation once again confirms a fact: the crypto market has long been closely connected to the outside world.

However, looking back at history, rapid declines during a bull market are rarely the end. More often, they serve as technical adjustment opportunities and windows for reallocation of chips. The real question is—where will the money flow after the panic? Clear-headed participants are making choices now: they are not following the trend to sell off, but instead calmly considering which projects can demonstrate true resilience and long-term value amid this turbulence.

In this round of adjustment, projects like Plasma that focus on infrastructure development have gained more attention. Why? Because when the market declines across the board, projects with solid fundamentals and real-world problem-solving logic become especially clear. Plasma targets real needs—it aims to build infrastructure capable of supporting trillion-dollar applications. This positioning often appears more firm and powerful amid volatility. That’s why rational investors are now more willing to examine assets that can withstand cycles and possess practical utility.