Looking back at the past trading records, at that time managing FoF funds and accumulating chips was basically done by slowly buying against the falling trend, rarely chasing the price to build a position. The reasoning is quite straightforward — when the cost of chips is high, it puts a lot of pressure on selling later. If you encounter someone who can cooperate in dumping or create some small actions, then it's definitely a brotherhood.

Although it is technically possible to keep pushing upward, the cost is too frightening, and contracts are another story. Anyway, profits are settled once a year, so there is no need to rush to consume the safety cushion. Looking at the market now, the operation of cutting losses and then hoarding at low positions seems more like a preparatory action before large funds enter. It is worth keeping a close watch, as these players didn't exist in the last cycle. As a veteran who has been in the market for seven years, facing these new roles, to be honest, it is also the first time I've seen this.