Only when the tide goes out do you discover who has been swimming naked; only when the reckoning comes do you see who has been partying on leverage.

Bitcoin has been bouncing around the $110,000 mark, with both bulls and bears already red with rage. Coinglass data shows that if it falls below $110,000, $1.128 billion in long positions will collectively be 'sacrificed'; conversely, if it breaks above $115,000, the bears will also have to line up to 'jump off the cliff'. What are these candles? They are clearly the switch for the 'scallion harvesting machine'!

The points of contention arise:

1. Is 'liquidation intensity' a warning or a trap? The liquidation charts from exchanges seem scientific, but in reality, they are like the smile of a 'casino dealer' — you know there's something fishy, yet you can't help but place your bets.

2. Who is controlling the liquidity waves? Big institutions shout 'the bull market is eternal' while secretly placing stop-loss orders, just waiting for retail investors to charge into battle.

3. Has the leverage party turned into a 'meat grinder'? Some people become overnight millionaires with 10x contracts, while many others wake up to find their accounts reduced to zero — this is not investing, it's Russian roulette!

Qing Yao's sharp comments:

Don’t be scared stiff by the 'liquidation column', nor let the 'breakthrough theory' cloud your judgment. The crypto market is never short of drama; what it lacks is a clear mind. Remember: 'Markets are born in despair and die in leverage.'

Want to understand this bloody game? Follow @加密青遥 , and we’ll tear apart the 'hidden rules' behind the candlesticks!

After all, the self-cultivation of scallions starts with refusing to be fuel. #ETH创历史新高