The initial trigger for the crash was: ETFs running away madly combined with ETH being hacked.
In the past two days, there has been a crazy outflow of Bitcoin ETF funds.
Just yesterday, BlackRock's IBIT ETF saw outflows of $420 million.
Equivalent to 5,000 Bitcoins.
Set a record for daily outflows.
The withdrawal of funds has caused Bitcoin prices to break down.
It has broken below the lower edge of the high-level fluctuation range.
technically, it looks like it’s about to 'turn bearish.'
What’s more troubling is that...
The Bybit exchange was hacked.
Hackers washed away 206,000 ETH in 4 days, worth about $680 million.
The key issue lies in the multi-signature wallet protocol Safe on the Ethereum chain.
This thing is like a 'safe' for many institutions and large players.
Even Vitalik has 90% of his ETH stored inside.
This hack has directly shattered institutional confidence in the security of the Ethereum chain.
This led to the ETH exchange rate breaking down on the monthly line, dragging SOL down with it.
Plus, Trump in the U.S. is constantly calling for increased tariffs, clearly trying to pressure the Fed to release liquidity.
If he really creates a financial crisis, don’t say $80,000; even $60,000 could be breached!
But seriously, this guy was in power when Bitcoin soared from $3,000 to $60,000.
The market is now in extreme panic.
The big player believes it might actually have reached the bottom.
Although the market is in a state of despair,
but there is one signal worth noting:
The CEO of CryptoQuant also spoke up: 'Those panicking and selling now are mostly newcomers.'
In the short term, the market is severely oversold, and the chances of rebounds for Bitcoin and altcoins are increasing.
Especially for altcoins, they have clearly not followed the decline these past two days.
The market cap share of Bitcoin is rapidly declining, indicating that funds may be shifting from Bitcoin to altcoins.
Many altcoins have already fallen out of bottom formations.
For instance, ALCH and ARC in the AI track,
the public chain BNX is transforming to ride the meme trend.
They all start to push higher.
The current market mainline is: strong controlled coins are crazy, but the risks are extremely high.
Recently, there is a bizarre phenomenon in the market: while Bitcoin crashes, strong controlled coins soar.
For example, PI (not that mobile mining π) has a market cap directly hitting $300 billion.
Exceeding Ethereum has become 'the second by market cap,' and this result is entirely due to high control.
Coins like IP and KAITO rely on 'few airdrops and concentrated chips.'
are desperately pulling up; even BNX on the BSC chain rebranded to ride the meme can double in a day.
But brothers, the risks of strong controlled coins are also apparent.
OM's monthly line has already peaked, and retail investors who bought at high positions are likely to be buried.
This kind of market is essentially a collective speculation with funds; once the manipulators offload,
It drops harder than anyone else. Ordinary retail investors who haven’t positioned themselves in advance,
It’s best not to catch falling knives at high positions, or else the dog traders will teach you a lesson in no time.
Buffett said: 'When others are fearful, I am greedy.'
The big player believes there are still opportunities in the panic, but don’t get too excited.
In the short term: the market is severely oversold, the fear index has hit bottom.
A rebound could happen at any time, especially focus on resilient altcoins.
From a medium to long-term perspective,
The big player believes: Bitcoin may be close to the top in this bull market.
But don’t easily guess the top; a 30%-50% retracement is normal in a bull market.
Partners planning to buy the dip should be cautious.
The risk point is: strong controlled coins.
Avoid the trending dogecoin as much as possible.
the security issues on the Ethereum chain may continue to suppress prices.
Finally, I advise everyone that it’s not wrong to be greedy when others are fearful,
But greed must be premised on not going all in. In this market,
Small positions to bet on rebounds are okay, but large funds should wait for trends to become clear before acting.
In the end, I wish all coin friends can make a fortune; if you have confusion about any targets, you can communicate with the big player.