Today, the cryptocurrency market experienced a crash that can be described as a 'black swan'.
In 24 hours, over $19 billion was liquidated across the network, with 1.6 million people being liquidated. BTC, ETH, and altcoins all plunged.
Many people woke up to find their positions gone and their accounts cleared.
Why is it falling so hard?
1️⃣ Macro negative surprise: Trump announces new tariffs, market panic spreads.
2️⃣ High leverage chain liquidations: The market turned sharply, and liquidations flowed like dominoes.
3️⃣ Stablecoins depeg + liquidity gap: Some funding chains have been drained, and no one is stepping in.
4️⃣ Emotional collapse: Panic selling combined with algorithmic liquidation completely ignited the market.
In summary: It's not about who is dumping, but everyone running at the same time.
This crash is different from previous ones.
This is not simply a 'correction after a large drop', but a systemic flash crash caused by the breaking of leverage and liquidity chains.
What you see is not a price crash, but the collapse of trust and leverage together.
So what will happen next?
• Short-term: The market will still shake, but leading assets (BTC/ETH) are more likely to stabilize first.
• Mid-term: Project differentiation is obvious; weak coins die, strong coins live.
• Long-term: This wave of liquidation is a 'big reshuffle'; what remains is real gold.
For the brothers still on site
• Don't go all in, don't catch the bottom; every rebound must confirm signals.
• Control your positions; survival comes first.
• Save your bullets; wait for liquidity to return before taking action.
• A true master is not the one who makes the most money, but the one who lives the longest.
This time, the black swan on 10·11 was a risk education for everyone in the market.
Remember one thing: Bull markets rely on greed, bear markets rely on panic, and survival relies on risk control.
