$ACT
Cryptocurrency Market in December: 370,000 People Liquidated, Losing 1.2 Billion, Some Made 1.6 Billion from IPOs, While Others Are Still Bottom-Fishing!
Having just touched $126,300 for Bitcoin in October, December saw a direct "free fall," with two crashes bringing it below $85,000. The positions of 372,900 people worth $1.219 billion were wiped out overnight, with the largest single liquidation reaching $7.1 million! Some are holding onto their year-end bonuses, afraid to bottom-fish, while others are so stuck they forget to order takeout. The comment section is filled with liquidation screenshots—an Internet operator in Hangzhou has lost all 80,000 accumulated savings over three years, and even the imported cat food is uncertain; even more have put in their dowry money, all real living costs.
On one side are retail investors wailing, while on the other, there is a stark reversal: 13 domestic departments have blacklisted stablecoins, cutting off gray inflow and outflow channels; Hong Kong's HashKey completed its IPO with full SFC licensing, raising HKD 1.6 billion with a valuation soaring to HKD 19 billion, becoming the "pass" for compliant cryptocurrency. This wave of crashes is not a crisis of faith; exchanges hold only 14.8% of Bitcoin, and veteran players are quietly hoarding coins, while all liquidations are from contract traders using 5-10x leverage, purely short-term panic selling.
What’s even more heart-wrenching is that altcoins are "bleeding profusely," with a certain metaverse coin dropping 72% in half a month, and the group leader of a signal group disbanding and running away, leaving retail investors holding coins without a plan; meanwhile, long-term Bitcoin holders are buying the dip during the crash, treating it as an "inflation hedge." HashKey's ability to go public is fundamentally about avoiding "cutting leeks"—only servicing qualified investors, conducting anti-money laundering reviews, earning service fees, which is entirely different from leverage trading platforms.
A sincere recommendation: stay away from contract leverage in the cryptocurrency market, buy spot with money you can afford to lose, and keep positions within 5% of total assets; the "easy money" and "referrals" of air coins are all scams. Domestic regulatory red lines should not be crossed; leverage is a money pit, and HashKey's IPO is not to support speculation but to tell everyone that compliance leads to longevity.
In this wave of crashes, did you get liquidated and exit or buy the dip and increase your position? Are you brave enough to share your operations and positions?