On the night of October 11, the flash crash occurred, with Bitcoin plummeting and on-chain liquidations reaching 959 million dollars.

While everyone is still asking 'why is it falling', a giant whale address has already earned 160 million dollars.

According to on-chain data, this address had established 1,000 BTC short positions before the flash crash.

Opening price of 109,672.2 dollars, maximum position size of 111 million dollars.

After the cliff-like drop in the market, this giant whale successfully realized profits and is still holding positions.

The question is: how did he do it?

Is it advanced prediction, or did they know something in advance?

The truth of the market: Flash crashes are never 'accidents'.

In the crypto market, there is no such thing as 'sudden', only ignored signals.

On-chain data shows: in the 24 hours before the flash crash, the BTC long-short ratio remained high, and the funding rate was positive for a long time; the CME futures and Binance spot price difference suddenly narrowed to near zero the night before; the liquidation dense area was exactly in the range of 109,000–110,000 dollars.

In other words, that 'whale who laid out in advance' may not necessarily know the news; they just saw the systemic loopholes that others ignored - too many long positions, too high leverage, too thin depth.

In a word: this is a typical structural stomp, not a dark operation.

He may have utilized three 'open secrets'.

① Derivative data exposes the crowding of long positions.

The combination of funding rate and OI surge is the most dangerous signal.

When the market unanimously bullish, liquidity actually becomes fragile.

Any large short position can trigger an avalanche.

② Liquidation zones are dense = profit map.

The liquidation density map from the night of October 10 shows,

Nearly 30% of leveraged positions are concentrated above 109,000 dollars.

Stepping on this area is equivalent to pressing the trigger for a 'chain explosion'.

③ Algorithmic liquidity extraction.

Three minutes before the flash crash, the market depth of major exchanges plummeted.

Market-making robots collectively withdrew orders, causing BBO to gap.

Shorting at this moment is like knocking down a row of standing dominoes.

So he is not a god, but someone who has calculated the market structure.

But why does this 'stomp' feel more like a hunt?

The difference this time is: the long concentration area happens to be at the previous support level (with obvious long-inducing characteristics); USDT funds flowed back to exchanges in advance (increasing available margin); multiple quantitative robots closed strategies at the same time.

All of this feels more like an 'organized liquidity hunt'. The hunters do not use news, but rather models + speed + situational awareness.

In the on-chain world, the definition of insider information is no longer 'leaked news', but rather 'the asymmetric computational power of information'.

The swordsmith of the valley said a few points.

① Giant whales may not know the inside story, but they definitely understand the structure. The market is never fair; data depth determines how far you can see.

② The flash crash is not accidental, but a biological reaction of liquidity. When leverage breeds to the extreme, the system will clean itself.

③ So-called 'insider information' is just the logic that others have seen two steps earlier. Smart money doesn't rely on predictions, but on formations.

④ For retail investors, the safety boundary is not the stop-loss line, but leverage. Controlling leverage means refusing to become part of someone else's profit.

Leave a word for this flash crash:

Behind this 'precise short position' of 160 million dollars, some call him a genius, while others criticize him as a predator.

But there is only one truth - this is not 'insider information', but rather an information war.

In this war, those who see the clearest have never shouted orders.