Today’s fall has left me numb! In just three hours, it got dumped by 5000 dollars, and the entire market capitalization evaporated by 210 billion USD, with nearly 700 million in contracts getting liquidated. The strangest part? There was no clear unfavourable information at all!

There is no policy suppression, no collapse caused by the US stock market, and not even any decent FUD has appeared. It's purely someone flipping the table to wash their chips.

I have been watching the market for half a day and I think there may be a few reasons at play:
First of all, the long-short ratio of the contracts has long been unbalanced, with long leverage piled up too high, and a wave of cleaning up is necessary; secondly, as the end of the year approaches, traditional institutions need to recover liquidity for accounting adjustments; finally, quantitative programs may collectively trigger stop-loss lines, creating a cascading effect, which is harsher than manual dumping.

From a technical perspective, there are several key levels to pay attention to—if BTC fails to return above 86000 on the hourly chart, any rebound could be a continuation of a second dip; on the ETH side, 2750 is a crucial level, and if it cannot hold, the next support is likely around 2500.

My idea is to raise the cash ratio to above 60%, and then see if there is an opportunity to buy the dip after it falls below 84000. In this market environment, staying alive is more important than anything else.

What we fear the most is this kind of sudden fall without warning, which indicates that the market has become completely emotional, and nobody knows when the next leg will come.

How much have you been trapped today? Let's chat in the comments and see how everyone is doing.

I hope that the coins in everyone's hands are valuable assets, and the ones sold are perfect top escapes.