Recent market trends indicate a notable decline in the price of Bitcoin, one of the primary cryptocurrencies. At present, the price of Bitcoin has reached $61,490.01, showing a 2.2% decrease from the price it traded at the previous day. This degree of volatility is significant for market actors and advises investors to perform risk evaluation and management while trading to adapt to possible market changes. With the increasing intricacy and unpredictability of the crypto market, having an effective risk management strategy is essential for protecting asset safety.