Summarize the triggers of Black Swan Events in the market over the past five years and the impact on subsequent trends as a reference.

1. May 2021: Double blow from Musk + Chinese regulation
Time: May 2021 - July 2021
Event: Musk announces Tesla to pause accepting BTC payments;
Panda completely bans cryptocurrency mining and trading.
Decline magnitude: BTC dropped from $64,000 to $29,000, ETH dropped from $4,300 to $1,700.
Subsequent trend: After hitting the bottom at the end of July, BTC rebounded and reached a new high of $69,000 in November.
The current Bitcoin weekly level has reached the lower boundary and is starting to rebound.

2. May 2022: LUNA/UST Collapse (Algorithmic Stablecoin Crisis)
Date: May 9–12, 2022
Event: The Terra ecosystem's stablecoin UST depegged, LUNA plummeted to 0; over $40 billion in market value evaporated.
Drop magnitude: BTC fell from $39,000 to $26,000, ETH fell from $2,900 to $1,700.
Subsequent trend: a landmark bear market has begun, and the trust crisis has spread to DeFi and CEX.

3. November 2022: FTX Collapse (Centralized Trust Breakdown)
Date: November 8–12, 2022
Event: The world's second-largest exchange declared bankruptcy, and customer funds were misappropriated; this triggered large-scale panic withdrawals on-chain.
Plunge range: BTC dropped from $21,000 to $15,500; ETH fell from $1,600 to $1,080.
Subsequent trend: Starting in January 2023, the market gradually regained confidence and initiated a new round of rebound.

4. March 2023: US Banking Crisis (SVB, Signature Collapse)
Date: March 10–15, 2023
Event: Silicon Valley Bank (SVB) collapsed, USDC briefly depegged; the market was once concerned about systemic risks in the crypto banking system.
Drop extent: BTC fell from $22,000 to $19,500 (and then quickly rebounded).
Future trend: The market interprets it as "the Fed may slow down interest rate hikes," which instead has initiated a wave of BTC price increase.

📈 Overall Patterns and Summary:
1. The drop in each Black Swan Event is usually between 30% and 80%;
2. The causes of the sharp decline are mostly due to the trust crisis (exchanges/stablecoins) or macro liquidity tightening;
3. Almost all significant downturns will see a phase of rebound within 6-12 months, especially during the Federal Reserve's easing cycle.
4. In the long-term trend, each Black Swan Event is a "consolidation period" before a major cycle bull market.

Regarding the current Black Swan Event, the main reason is the profit-taking in the market triggered by the resumption of ship tariffs between China and the United States, leading to uncertainty. The market adjusted accordingly. Bitcoin directly adjusted to the lower bound of the weekly chart. Compared to previous Black Swan Events where the market continued to bear in the later stages due to a lack of positive stimuli to support another rally, this time it has entered a medium-term adjustment. However, after previous Black Swan Events, those with recent positive stimuli quickly welcomed a new round of upward trends after short-term adjustments. The current market needs about two weeks for recovery. In the face of the favorable expectations of interest rate cuts at the end of October and in December, after the short-term adjustment of technical indicators, the outlook for the future market still holds significant opportunities for another wave of trends. It is advisable to take the opportunity to buy some Bitcoin and Ethereum spot and mainstream altcoin spot, waiting for the market to rise with the two interest rate cuts. It is recommended to hold 50% of the spot position.