Based on UTXO data, there are two intuitive judgments about the upcoming market trend: 1. Chips held for two years are trapped. The 60,000 level is not only a psychological barrier but also the average cost basis of "new money" over the past two years. Falling below this point indicates that the market has completed a deep shakeout of mid-term holders. 2. When the vast majority of people start to experience substantial losses, it is often the best "strike zone" for initiating positions on the left side.