$BTC The actual manipulators of market fluctuations (such as market makers), rather than the institutions or long/short forces traditionally recognized. They create liquidity through two-way quotes and then create a liquidity vacuum by withdrawing orders— for example, placing large sell orders at key positions to induce panic and lure retail investors into cutting losses; or pretending to support orders to attract follow-up trades and then suddenly withdrawing orders, triggering programmed stop-loss orders.
This precise strike of "placing orders - withdrawing orders" is essentially a sweep of retail stop-loss positions. The purpose is not to create trends, but to complete liquidity tasks (such as the scheduled quantitative goals commissioned by brokerages) through the cycle of "sweeping out short positions and then sweeping long positions."
What is called "stop-loss sweeping" essentially creates passive buying and selling: when stop-loss orders are triggered, the behavior of retail investors being forced to close positions transforms into enforced market transactions, resulting in passive buying or selling.
The true main force is not a concrete institution, but rather the abstract behavior of quoting and withdrawing orders themselves—it directly manipulates the distribution of liquidity and dominates the direction of price fluctuations. Understanding the core of the market lies in recognizing that market fluctuations are driven by the quotes of liquidity controllers, rather than a simple aggregation of active buying and selling intentions.
