Last night, over 1.7 billion was liquidated, setting the second-highest liquidation record in cryptocurrency history, the last being in 2021. But if you look at the daily chart of Bitcoin, you might feel that the correction is almost negligible. So why did so many people get liquidated? How did so much money just vanish? The conclusion is that most retail investors are trading altcoins, and the average daily decline of altcoins reached almost 20% last night. This tells us that only Bitcoin is the real gold. From my trading perspective, I would only use 5% to 10% of my total assets to take a gamble. From yesterday until now, my total asset drawdown is only about 3-4%. Don't envy those who play altcoins for short-term profits; their wealth could vanish overnight. In the crypto space, surviving longer is more important than making quick profits. $BTC
