Why are U.S. stocks rising while $BTC is falling?
It's not about fundamentals, it's not about macroeconomics, and it's not even about the direction of the S&P 500.
The real answer is just one: "leverage"
In just 4 hours, the cryptocurrency market evaporated $136 billion in market value.
$3.81 billion in long positions were forcibly liquidated.
Meanwhile—
The S&P 500 index only dropped by 0.30%.
You read that right, it's not a crash, just a nearly negligible pullback.
Why are U.S. stocks unaffected while crypto is collapsing?
The core reason: the crypto market is distorted by "extremely high leverage".
U.S. stock market:
No 50× or 100× contracts,
No arbitrary liquidation mechanisms,
Risk is strictly institutionalized and layered.
A 0.3% fluctuation is just noise.
Crypto market:
High leverage fills longs,
Liquidation lines are densely overlapped,
A slight fluctuation triggers a chain of liquidations.
Prices are not falling on their own; they are being forced down by liquidations.
What would happen without leverage?
No forced liquidations, no liquidity crashes, no panic chain reactions.
The market should be near historical highs, and Bitcoin could have even broken $200,000 earlier.
So, the culprit destroying crypto is not U.S. stocks,
It's not macroeconomics, but leverage itself.
Extreme leverage makes the market no longer driven by "capital" but by liquidation lines. A market without leverage may rise more slowly, but it will definitely be healthier.
Currently in the crypto market: rising relies on sentiment, falling relies on liquidation.
The text is from: Coin Circle Dragon King
#美国非农数据超预期 #巨鲸动向 #加密市场观察 #美联储降息
Prepare to ambush Musk's little puppies: p u p p i e s🐶
