Just now, $175 million was buried alive. The bulls are dead, and the bears are dead too!

Stop analyzing candlesticks, first count the corpses.

In the past 24 hours, long positions were liquidated for 70 million, short positions for 104 million.

Did the bulls lose? Did the bears win? No.
Everyone lost.

Do you think this is a battle between bulls and bears?
This is a collective execution.

—

1. You think you're bottom-fishing, but actually you're the bottom.

Why today in particular?
Because the entire internet is waiting for a pullback, and the market makers just draw a trap for you.

You place a long order at 60,000, and it precisely drops to 59,000, wiping out your stop-loss, then pulls back to 62,000;
You get angry and chase the long, and it pierces through all take-profit orders.
In 24 hours, both sides are wiped out.

This is liquidity hunting, not a market trend.

Retail traders learn to set stop-losses, and market makers learn to eat stop-losses.
You think you're trading?
You're just someone else's liquidity pool.

—

2. The crypto world is turning into a “cash-only” club.

$175 million liquidation, three years ago that was huge, today it's daily routine.

It's not that there's more money, but leverage has gone crazy.
10x is conservative, 20x is standard, 50x is daring to call a trade.
And what happened? Yesterday, a small slip, and slippage directly swallowed your stop-loss price—

You set a 5% stop-loss, but the execution price is 15% away.

You think you have risk control?
Your risk control is a steak on the market maker’s plate.

This round will kill off a batch of contract traders.
Not just liquidation and exit, but complete departure.
Because you finally realize: it’s not a technical issue, it’s a rules issue.
In the face of liquidity traps, all indicators are useless.

Those who survive in the future are not the best technical traders,
but those who don’t open contracts at all.

—

3. Ethereum is becoming “like Bitcoin,” but that’s not a good thing.

In the past 24 hours:
BTC liquidation: 66.72 million
ETH liquidation: 33.44 million

The ratio has shifted from 1:0.3 to 1:0.5.
Ethereum’s volatility is aligning with Bitcoin’s, even bigger.

What does this mean?

Ethereum is no longer the “steady second-in-command.”
Previously, after Bitcoin’s shakeout, money would flow into Ethereum, then into altcoins, layer by layer.
Now?
Bitcoin shakes, and Ethereum shakes even more.

Retail traders think Ethereum is a safe haven,
but in reality, it’s at the center of the storm.

—

4. The scariest part: the market is losing “inertia.”

In the past, after a bullish run, there was usually a little reward for the bears, right?
Yesterday: both bulls and bears were liquidated.

In the past, a 10% drop in a day would usually cause two days of volatility, right?
Yesterday: it dropped and then immediately rebounded, giving no time for reaction.

All strategies based on historical experience are failing.

Candlestick charts are increasingly looking like an ECG.
It’s not that the patient is recovering,
it’s that the patient is dying.

—

So, don’t try to guess the bottom.

People guessing the bottom at this stage have grass three meters high on their graves.

Don’t hold heavy positions.
What you think is a golden pit might be a mass grave.

And don’t open new contracts.
This is no longer a time to compete on technical skills,
it’s a contest of who can survive longer.

Remember:
$175 million is not the end, it’s the beginning.
This round of cleansing is not over,
the main players still hold chips,
and there are still skeptics in the market.

When they all die,
that will be the real bottom.