In the Crypto Assets market when there is a general decline, making decisions to 'hold' or 'sell' requires a comprehensive analysis of multiple factors. Here are some key considerations and strategic suggestions to help you respond rationally:

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### **First, short-term strategy: first determine the reason for the decline**
1. **Overall Market Trend**
- **Macroeconomic Environment Impact**: If the decline is triggered by macro factors such as interest rate hikes, geopolitical conflicts, etc., it may continue to be under pressure in the short term, but may not necessarily change the industry trend in the long term.
- **Sector Rotation**: Some sectors (such as MEME coins, NFTs) have larger fluctuations, and it is necessary to distinguish whether it is a market-wide pullback or issues specific to the sector itself (such as project team exit, technical vulnerabilities).
- **Sentiment Analysis** : If the panic index (such as the Fear & Greed Index) is at an extremely low level, it may indicate an opportunity for an oversold rebound.

2. **Technical Signals**
- **Key Support Level**: Observe whether the price falls below important support levels (such as previous lows, moving averages). If there is a large volume breakout below, the short-term risk increases.
- **Rebound Signal**: If there is a rebound with expanding volume after a volume contraction, RSI oversold (<30) and other signs, it may be a short-term bottom.

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### **Second, Medium to Long-Term Strategy: Focus on Project Fundamentals**
1. **Evaluate Project Quality**
- **Team and Roadmap**: Is the core team transparent? Is the technological progress in line with expectations?
- **Ecological Activity**: Is the on-chain transaction volume, number of developers, user growth, and other data healthy?
- **Competitive Advantage**: Does the project solve real needs (such as Solana's high performance, Ethereum's ecosystem advantages)?

2. **Industry Track Prospects**
- **Cycle Properties**: Infrastructure projects (such as Layer1, Layer2) typically have stronger resistance to declines, while MEME coins and NFTs have greater volatility.
- **Policy Risk**: Some sectors (such as privacy coins, exchange platform coins) may face stronger regulatory pressure.

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### **III. Fund Management and Risk Control**
1. **Position Adjustment**
- **Stop Loss Discipline**: If it falls below the psychological stop loss level (e.g., -20%), partial stop loss can be taken to avoid emotional trading.
- **Batch Operation**: In a decline, you can gradually add to your position (e.g. increase your position by 10% for each 10% decline), but you need to reserve cash to deal with extreme situations.

2. **Diversified Allocation**
- **Cross-asset hedging**: Allocate funds to assets of different risk levels (e.g. 60% mainstream coins + 30% potential altcoins + 10% cash).
- **Cross-Market Correlation**: Pay attention to the correlation between Crypto Assets and US stocks (especially tech stocks) to avoid systematic risks.

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### **Four, Decision-making Reference Framework**
| **Scene** | **Possible Operations** | **Example** |
|-------------------------|----------------------------|-------------------------------|
| Sell decisively | Sell decisively | Team dissolution, code stoppage, regulatory crackdown |
| Market panic oversold + quality assets | Hold or DCA | BTC/ETH fell to historical undervaluation levels |
| Short-term bearish + long-term bullish | Wait for a pullback to replenish after reducing positions | Sudden black swan event leading to a flash crash |
| Funds urgently needed turnover | Priority selling high volatility assets | Leveraged positions or low liquidity shitcoins |

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### **Five, Current Market Notes#**
1. **Focus on the Federal Reserve policy**: Risk assets are under pressure during the rate hike cycle, and a policy shift may trigger a rebound.
2. **Regulatory Dynamics**: The SEC's enforcement actions on Crypto Assets (such as against exchanges, stablecoins) may cause localized turbulence.
3. **Technical Innovation**: Layer2, ZK-Rollups, DeFi derivatives and other tracks still have long-term potential.

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### **Summary Suggestions**
- **Holding Conditions**: High-quality project + Controllable position size + Ability to withstand volatility + Long-term bullish on the track.
- **Sell Conditions**: Deterioration of fundamentals + Breakthrough of stop-loss line + Urgent need for funds + Discovery of better investment targets.
- **Neutral Strategy**: Reduce some positions to lock in profits/reduce losses, retain core holdings to observe market changes.

**Final Reminder**: Avoid panic selling all positions, and do not blindly buy the dip at the beginning of a downturn. It is more important to keep track of on-chain data (such as net inflows to exchanges, movements of whale addresses) and market sentiment than to predict price movements.
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