Today's crypto market resembles a gambler kicked into the abyss, temporarily stopped by a tree growing from the cliff; Bitcoin finds temporary support at $86,000.
Just yesterday, Bitcoin fell below $90,000, and 250,000 people were liquidated overnight, blood flowing like a river.
On the surface, it looks like 'technical adjustments' and 'market fluctuations', but peel back the layers, and it's all a meat grinder for capital giants.
Today, Old Xu will take three minutes to peel back this layer, letting you see who is reaping profits and who is secretly laughing at the corpses.
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I. Bitcoin crash: whose scythe will fall first?
Bitcoin falls below $90,000; Wall Street's 'technical correction' nonsense can't fool the seasoned players — this is clearly a chain reaction from Trump's tariff club.
Trump imposes a 25% tariff on Canada and Mexico, shouting 'negotiation' while actually forcing global capital to take sides.
Market risk aversion explodes, speculators frantically sell, and Bitcoin becomes the first sacrifice.
Even worse, Bybit and Infini have been hacked in succession, with over $1.5 billion in assets stolen, shattering the myth of security. Hackers steal coins as easily as picking pockets, retail investors panic and trample each other, and the dealers take the opportunity to crash the market — every drop of blood is a lubricant for the capital scythe.
II. The liquidation tragedy: 250,000 retail investors' 'guillotine'.
In 24 hours, $1.06 billion was liquidated, and 250,000 people lost everything. This isn't 'market fluctuation'; it's outright harvesting. Leveraged players stubbornly held the $90,000 defense line while the dealers smashed through the support level, triggering a chain of liquidation orders, leaving a scene of corpses everywhere. Just a month after 370,000 people were liquidated, retail investors' memories are shorter than a goldfish's.
Wall Street analysts shout 'bottoming out' while secretly bottom-fishing. Bitwise Europe waves the flag, claiming 'on-chain indicators show a local bottom', while the crypto sentiment index falls to its lowest since August, flashing contrarian buy signals — but the bodies of retail investors haven't even cooled down, who dares to believe this 'bottom fishing' isn't just the prelude to the next round of slaughter?
III. Trump's 'double-sided card': verbal rescue of the market while secretly bleeding it dry.
Trump loudly proclaims 'Bitcoin is a strategic reserve' while imposing extreme pressure on tariffs and regulation after taking office. South Dakota's Bitcoin investment bill was killed, the Czech Republic secretly tests a 5% reserve allocation, and El Salvador stubbornly holds on to 'Bitcoin saving the nation' — global regulation has split into various levels, and capital takes advantage of the murky waters.
More insidiously, Trump courts the crypto sector (appointing SEC Chairman Paul Atkins) while using tariffs to ignite market panic. This old fox's plan is simple: use chaos to force retail investors to cut losses and feed the Wall Street giants with policy uncertainty.
IV. Dark line battles: ETF capital attraction and 'stablecoin secret wars'.
On the surface, blood flows like a river, but dark capital has long made its move. Bitcoin spot ETFs have attracted $36.4 billion this year, while Ethereum ETFs have followed with $2.4 billion — institutions sell with one hand while accumulating low-priced shares with the other, playing the classic trick of 'picking up passengers in reverse'.
The stablecoin market is also surging with undercurrents. Tether's monopoly has been broken, with Circle joining forces with Binance to enter the fray. More stablecoins are entering the market, seemingly 'reducing systemic risk', but in reality, it's a preliminary battle for capital to carve up the decentralized finance (DeFi) pie. What retail investors think of as 'hedging tools' are merely new toys for the dealers to manipulate liquidity.
V. The endgame of 2025: destruction or rebirth?
In the short term, the market has reached a critical point: technical support levels are dropping to $84,500 and even $73,800, with Fed rate hike expectations looming, and tech stocks like Tesla plummeting, dragging down market sentiment. But long-term hidden cards remain — Standard Chartered Bank claims 'Trump's re-election will push Bitcoin to $200,000', and Technavio predicts the crypto market size will surge by $39.75 billion by 2029, with a compound annual growth rate of 16.7%.
For Chinese players, this is the most dangerous gamble and the best hunting ground. Hong Kong tech stocks surged 4.47% today against the trend, with foreign capital crazily bottom-fishing 'Chinese assets' — when the East doesn't shine, the West does, global capital is swinging wildly between two extremes.
The crypto market in 2025 will either be a graveyard burying greed or a gambling table rewriting fate. The dealer has already revealed their cards: washout through sharp declines, panic to force liquidation, and policy fog to obscure the harvesting trajectory.
If retail investors want to survive, remember this iron law — in the eyes of capital, there is no faith, only chips.
Ahem, you can now call me Editor Xu. The article above was generated by feeding deepseek some material in my style; I've made some adaptations, and I feel like posting one a day won't be difficult; I just need to find an angle.
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