"While you are still having breakfast, the whales have already smashed through your position!"
At 6 AM Beijing time on June 17, BTC and ETH suddenly plummeted in sync, dropping more than 3% in just 15 minutes, with a total liquidation of $530 million across the network! This is not a coincidence, but the precise hunting of the German government transferring 7500 BTC on-chain! Uncover the truth behind this 'twin crash'.
Technical aspect: The decline is like copy and paste, the main force's tactics are blatant.
Key support simultaneously breaks.
BTC: The 15-minute chart clearly shows that $109,000 has become an iron ceiling; at 6 o'clock sharp, a sudden increase in volume broke through the $107,500 defense line, directly piercing the 'bullish psychological defense line'!
ETH: In the same minute, the $2680 resistance was smashed by a large bearish candle, and the $2580 support (dense area for retail buying) collapsed instantly!
Truth: The main force specifically targets retail investors in China, Japan, and Korea while they are having breakfast—Asian liquidity is the thinnest, and the cost of crashing is the lowest!
The order book exposes 'joint strangulation'.
BTC sell orders hide secrets: before the crash, a dense sell wall suddenly appeared at 107,084.7 USDT, clearly an institutional 'roadblock-style dumping' to prevent rebounds!
ETH synchronized operation: Large orders pile up at the $2580.31 USDT sell wall, completely in sync with BTC's crash rhythm—this is not a coincidence, it is a cross-market joint hunt!
Volume exposes the main force's traces.
Large BTC sell orders are dense: over 10 BTC sell orders appeared continuously during the decline; how can retail investors have this strength?
ETH declines with even more volume: A dense transaction broke out near $2580, indicating panic selling, and bullish stop-loss orders were completely wiped out!
News: The German government becomes the 'culprit of the crash'.
The German government wallet bc1qky transferred 7500 BTC to Coinbase just 15 minutes before the crash!
Why choose this time?
European institutions just started work: ample liquidity makes it easy to unload;
Federal Reserve hawkish ambush: Powell speaks at 10 PM that day, hedge in advance;
Zero-cost chips: This batch of BTC was seized from stolen goods, and there is no pressure to crash!
Retail investors become lambs to the slaughter: by 6 o'clock when Asians check their phones, the price has halved, and those trying to buy the dip are already halfway down!
Why did BTC/ETH drop like 'twins'?
Bitcoin is the 'baton', Ethereum is the 'follower'.
Iron law of the crypto world: 'When BTC sneezes, ETH catches a cold.' BTC accounts for 40% of the entire market value, and once it breaks, all coins must follow the decline.
History repeats itself: In June 2023, Grayscale's crash of BTC caused ETH to fall 12% in one day; this time the script is exactly the same!
Derivative chain liquidations add fuel to the fire.
When BTC fell below $107,000, the entire network experienced $320 million in liquidations within an hour;
ETH fell to $2580, and another $210 million long orders exploded, creating a 'long-killing long' death loop!
Subsequent life and death line: If ETH can't hold $2580, it may collapse to $2300!
ETH's critical juncture: $2580 is the weekly support; if it breaks, it will trigger a tsunami of liquidations at $2400.
BTC Bull-Bear Boundary: $107,000 is the daily life line; if broken, it will drop deeply to $100,000.
"Government whales crash the market, and it’s always the retail investors who pay the bill!" Germany's zero-cost harvesting this time vividly showcases the predator-prey relationship in the crypto space. Follow Qiu Ge to get first-hand information and accurate updates.
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