#Strategy加码BTC配置 Bitcoin's "Invisible Footprint"

Many people are experiencing it now—without realizing they are part of it.

When it comes to corporate holdings of Bitcoin, most only look at the surface: which company bought how much, and every announcement seems to be a positive signal. But the truth is much more complex. Corporate treasury operations essentially build a self-reinforcing feedback loop. Once the direction reverses, this system amplifies all negative signals in the opposite way.

When Bitcoin prices start to come under pressure, the chain activates like this:

Companies stop increasing their holdings—they no longer announce purchase plans, and the market's waiting statements never come. The valuation premium of treasury-related companies immediately contracts, sometimes turning from a premium into a discount. Press releases disappear, and hype material dries up. Short sellers recognize this signal, increase their positions, and intensify their shorting efforts. Spot buying power diminishes accordingly, and selling pressure gradually surpasses buying interest.

This is the reverse operation of reflexivity.

In an upward cycle, every good news is amplified tenfold; in a downward cycle, every hint of hesitation turns into panic. Those who truly understand the market know: bottoms never appear during "accumulation of good news," but rather when the entire chain is on the verge of breaking and information is completely exhausted.

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