Relevance Score: 95 points
Aave just revealed a routing disaster of 50 million U exchanging for 3.5 dollars of AAVE, and the front-end risk control was heavily schooled by MEV bots. Although the core protocol hasn't collapsed, the pricing mechanism of CoW is indeed underwhelming. The community is still arguing about cutting the annual repurchase budget to 30 million dollars, as income has decreased while expenses continue to rise; this wave of "cost reduction and efficiency improvement" is quite helpless.
Currently, Bitcoin is hovering around 70,000 dollars, with clear hawkish signals from the Federal Reserve, and interest rate cut expectations cooling down, leading to significant short-term adjustment pressure. Although Aave has dropped by more than 3 points, as a lending leader, as long as Bitcoin doesn't break through the support level, the adjustment is actually an opportunity.
My judgment is clear: Bitcoin's retest at 68,000 is a strong bottom, and the rebound should first look at the 80,000 threshold. Aave is under emotional pressure in the short term, but the fundamentals are not bad; don't chase highs and kill lows, buy in batches on dips, hold on and wait for a reversal.
