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430,000 people forced to liquidate! The crypto market evaporates 100 billion, five factors combine to form a 'crash package'

At the beginning of 2026, the crypto market directly opens with a 'green buff', BTC breaks below $75,500 creating a new low in nearly ten months, down 30% from last October's peak; ETH plummets from $3,000 to $2,250, and altcoins become a 'disaster zone', with many accounts going to zero.

In a single day, 430,000 traders were liquidated, and $2.6 billion in funds 'evaporated', with the whole market losing $111 billion in market value in one day, a selling frenzy comparable to a 'clearance sale', with social media filled with regretful statements about 'leverage harming people'.

This wave of crash is the result of five factors combining to form a 'crash package': the dovish expectations of the Federal Reserve falling short, the hardliner Waller about to take office, high interest rates + strict regulation driving away capital; the aftereffects of the flash crash on 1011 are still lingering, market liquidity as thin as paper, and controversies over exchange technical failures adding to the panic; the escalation of the US-Iran situation, the 'safe-haven' narrative of crypto flipping, with funds fleeing to the US dollar and US Treasuries; institutions continuously withdrawing from Bitcoin ETFs, rising compliance costs causing institutions to exit; and the collapse of precious metals triggering cross-market chain reactions, with panic sentiment spreading completely.

The five major factors form a 'downward-liquidation-downward' death spiral, combined with the year-end cash-out wave—regardless of institutions or retail investors, everyone wants to cash out for a safer New Year, and tightening liquidity further fuels the decline.

In fact, there is no need to panic excessively, as the ups and downs of the market are normal; this wave is more about the combined effect of macro factors and year-end liquidity. The key now is to avoid high leverage, not to blindly catch the bottom, and to protect principal is more important than anything else. Have a good New Year, and wait for the sentiment to warm up and funds to flow back in the new year, the market will naturally welcome new opportunities; as long as the green mountains remain, there's no fear of not having firewood to burn.