Brothers, good afternoon. Last night in the live broadcast, I focused on the core issue of liquidity, and today I will go through the data with you again so that you can understand just how cold the market is right now.
Currently, the total open interest across the network has fallen below 130 billion, which is a direct halving compared to the peak in October, evaporating nearly 50%. Looking at the secondary market, spot liquidity has decreased by about 70%, and contract liquidity has also dropped by around 50%. This is not a short-term fluctuation; this is a real cash retreat.
To say something heart-wrenching, I don’t know if everyone in the market has lost everything, stopped playing, or has become numb. In any case, the exhaustion of liquidity is the most real and dangerous signal at present.
So don’t be fooled by one or two rising candlesticks anymore; a market without volume won’t go far; a market without liquidity will only harvest repeatedly. Seeing this point is more important than watching the ups and downs.
