CZ Latest Insights: The real early buyers of Bitcoin never jumped in at the highest point. When they made their move, the market was filled with fear, uncertainty, and doubt.
You think you are using AI, but in fact, you are being sold tokens.
The essence of this round of AI is actually very simple: The true internet giants that can train large models exchange money for NVDA graphics cards, exchange graphics cards for computing power, and then slice that computing power into tokens for external sale, essentially running a 'computing power retail business.'
Following this underlying logic, several key conclusions can be drawn.
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1. Computing power is advancing, tokens will become cheaper, but demand will only grow larger.
The performance of graphics cards is continuously improving, and the marginal cost of a single token must be decreasing. But the problem lies in the fact that pricing power is not in the hands of users, but in the hands of model vendors.
$NIGHT Family, what has happened to this coin! The trading competition currently has a trading volume of 230,000, but that was the data from the 24th. How much can we reach today? Family, please share your thoughts! #NIGHT交易赛 #币安Alpha
Within a year, the annual GDP growth rate will reach over 10%, and within five years it will reach 100%, an era of gold everywhere, an era that even an economist wouldn't dare to dream of.
Will BTC really drop to 24,000 in an instant? The answer is: it's not the market, it's an accident, and the source is quite ridiculous.
The starting point of the matter is actually a USD1 investment activity from Binance.
Let me clarify the background👇
Binance launched a USD1 deposit activity with an annualized 20% APY, but each person has a limit of 50,000 USD. Once the interest rate was announced, those who understood started to make a fuss about USD1.
Then things started to change.
Due to a large number of users needing USD1 to participate in the investment, USD1/USDT showed a significant premium, For stablecoins, a 0.3%-0.4% fluctuation is already considered an "abnormal rise."
At this time, arbitrage funds entered the market.
Some "smart money" noticed the premium on USD1, So they borrowed USD1 through Binance VIP lending, And slowly sold it in the spot market to those eager to get USD1 for the 20% APY, A standard risk-free arbitrage path.
The problem occurred in the last step.
One user thought more simply:
"Since everyone wants USD1, can't I just sell BTC/USD1 directly?"
The idea was not wrong, but the execution was.
He directly placed a market sell order for BTC/USD1, And the liquidity of this trading pair was very shallow, As a result, tens of thousands of U's market order, Directly smashed the price down to 24,000.
Of course, this price only existed for a very brief moment, And was quickly "picked off" by arbitrage robots and market-making funds.
So what you saw was not a crash in BTC, But rather: A "price accident" created by low liquidity trading pairs + market orders + activity incentives distorting supply and demand.
It's okay if you didn't fully understand it, Such things will happen repeatedly in the future. Just save it for now, and when the day comes when you experience it, you'll understand. #加密市场观察 #bitcoin
1. Airdrop Situation Still mostly legacy-token airdrops today. Christmas for Western traders is basically what Lunar New Year is for us — activity doesn’t stop, but most key players are offline.
2. Limit Order Flow Yesterday’s total limit-order volume reached $5.246B, up 5.21% day-over-day. Liquidity is there, enthusiasm is… moderate.
3. Trading Competition Snapshot • NIGHT (ends 19:00 today) Rank moved from 157,887 → 231,154 +73,267 participants • VSN (ends 23:59 today) Rank jumped from 1,205 → 20,197 +18,992 • LAVA (ends 23:59 today) Rank shifted from 391 → 4,193 +3,802
No leaderboard predictions today — less guessing, less involution. Hope everyone makes the cut.
4. Today’s Picks (Tokens listed within 30 days, ×4 Alpha points) • Trading competition focus: NIGHT • Pure volume play: LISA
💡 Suggested approach: ~$500 per trade, small size, multiple entries.
I|Airdrop Rhythm Today is basically the same old faces. Foreigners are celebrating Christmas, just like we celebrate the Spring Festival— there are people in the market, but the main players are mostly on holiday.
II|Limit Order Activity Yesterday's limit order transaction volume was 5.246 billion Daily increase +5.21% This indicates that the volume is still there, but the sentiment is not overly excited.
A man more accurate than Brother Sun has appeared! The first person to counter? Or is it to convey some signal through countering? Don't answer! #加密市场观察
Do you think there is a lot of gold? In fact, if you pile up all the gold that has been mined on Earth, it would be just a cube with a side length of about 21 meters. Placed in a city square, it even seems a bit shabby.
And what about Bitcoin? All the existing Bitcoins in the world add up to less than 21 million. It's not that 'there's not much now', it's that from the dawn of humanity to the end of the world, there will only be this much.
A 'visible little square', a 'limit written in the code'. Scarcity, in itself, is value.
Just finished your Binance square, have you eaten eight? Seven made a profit, and there are two picking up cars, one showing the account. Why didn't I get in on any of them, family? Did you eat me away? #币安广场
📊 Review of Bitcoin Prices on Christmas Eve Over the Years
Flipping through history, you will find that every Christmas Eve, Bitcoin seems to record a cycle of emotions at that time. • 2013|$666 —— The starting point of early enthusiasm • 2014|$323 —— The winter after the bubble burst • 2015|$455 —— Slow recovery in the trough • 2016|$899 —— The eve of a new cycle • 2017|$13,926 —— The crazy bull market is underway • 2018|$4,079 —— The quiet during the deep bear phase • 2019|$7,323 —— The market breathes again • 2020|$23,736 —— The build-up before the bull market starts • 2021|$50,822 —— A year of high volatility • 2022|$16,822 —— The reality after the leverage was cleared • 2023|$43,665 —— Confidence slowly returning • 2024|$94,120 —— The peak range of the new cycle • 2025|$87,340 —— The game of shifting at high levels
If we extend the time frame, Price is just a result, Cycles, emotions, and liquidity are the true recurring protagonists. #加密市场观察
It seems that a certain BTC whale wants to exchange Bitcoin for USD1, and also wants to get a 20% annualized investment. Unexpectedly, the liquidity pool for USD1 is too small, a single order immediately shattered the pool.
The price instantly plunged, BTC's transaction price slid down to 24,000 USD.
At this point, it's no longer a matter of how much annualized return there is, even if the investment lasts a lifetime, it's basically impossible to make up for the loss from this drop.