According to the information from on-chain analyst @余烬Ember , currently the two major treasury companies in ETH are experiencing significant floating losses.

This round of the crypto bull market is supported by institutions continuously buying in, propping up the market by stepping on each other's toes.

How much leverage did institutions use while accumulating mainstream assets in the crypto space $BTC $ETH ? When did they reach the stop-loss point?

As the market declines, if institutions are forced to liquidate to deleverage, the market could fall without a bottom in sight.

The group chat record is an analysis from the big shots on the day of the extreme spike on 10-11.