🚨The Truth Behind the Crash: This is Not a Black Swan, but a Three-Layered Strangulation!
While everyone is looking for a "black swan", the real hunters have already seen clearly — this is a "precise cleanup" directed by leverage, macro factors, and technical analysis. The bull market is not dead; it is just eliminating those who do not belong here in the bloodiest way.
First Layer of Strangulation: The Leverage Bubble Feast Ends with Liquidation
This is not a decline; it is a targeted "cleansing" against long leverage.
Billions of dollars in long contracts have turned to ashes in a series of forced liquidations.
The death spiral has formed: liquidation → market crash → more liquidations → continue crashing.
Reality: 90% of liquidation orders are long positions. The market declares in the most direct way: if you abuse leverage at the feast of revelry, you are the main dish.
Your Insight: If you were hurt by leverage in this crash, then it is not the market you lost to, but rather yourself, who forgot about risks during the rise.
Second Layer of Strangulation: Global Drainage, the Federal Reserve Presses the "Vampire" Button
Don't just stare at the candlestick chart; the real chessboard is in Washington.
The Federal Reserve "turns hawkish", interest rate cut expectations suddenly cool, and global liquidity tightens.
Capital's instinct: when interest rates are high, money will flee from risky assets like Bitcoin to safe havens like treasury bonds.
This is not just a decline in the crypto market; it is a global capital migration, and we just happen to be in the middle of it.
Third Layer of Strangulation: Technical Breakdown Triggers the "Automated Stampede" of Quantitative and Emotional Trading
When key support levels are breached, everything enters an automatically executing death program.
The critical support level of $110,000 is broken, technicians collectively stop-loss, and quantitative models automatically sell.
On-chain Truth: Whales continue to net outflows, while retail investors bravely take the bait. Smart money is exiting, while you are "buying the dip"?
Market sentiment plummets from "skepticism" directly to "panic", forming a perfect downward closed loop.
