Let's find some valuable insights this weekend and talk about the black swan phenomenon in the crypto market.

In the financial sector, especially in the cryptocurrency community, a black swan refers to an event that has an extremely low probability of occurring, is difficult to predict in advance, but suddenly happens—simply put, an unexpected crash. These events often catch most people off guard, leading to liquidations and significant losses. But it's important to understand that the market is a zero-sum game; when some lose, others gain. Instead of passively taking hits, it's better to actively understand these real historical black swan events.

From 2014 to 2021, the crypto market experienced many classic black swans. 2022 was a year of major collapse for institutions and ecosystems. Entering 2025, black swan events are occurring more frequently and on a larger scale—what does this imply? More and more retail investors and institutions are recognizing cryptocurrencies and even entering the market in large numbers. The more participants there are, the greater the impact when a black swan occurs.

Black swans generally stem from a few root causes: changes in international politics, sudden exchange failures, project team跑路, hacker attacks. This year, these factors have been playing out in turn. Judging from how major exchanges quickly responded after the Bybit incident, the industry's risk resistance capabilities are indeed strengthening.

When facing a black swan, there's no need to rush into buying the dip. It’s both a sign of panic and an opportunity—key is to manage your positions well, set proper stop-loss and take-profit levels. Surviving is the greatest victory. Living long in this market is more important than anything else. Let’s earn steadily together.