When fear and greed battle it out in the candlestick charts, the true hunters are already picking up bloody chips in the craters! This is the blockchain outpost, tearing through the fog to strike at the front lines of the crypto battlefield!
Recently, the cryptocurrency market seems to have been paused; after the excitement, only a mess remains. Let's discuss what has happened and give a reminder to new entrants.
The market is completely cold: all the money has run away.
Since the beginning of this year, the total market value of cryptocurrencies has evaporated by $610 billion (about the equivalent of two Maotai's market value), dropping from $3.27 trillion to $2.66 trillion. Bitcoin has been steadily declining from its high, hovering around $82,000, with trading volume shrinking to $14 billion a day, a sum so small that even big players are reluctant to move.
Even more exaggerated is that after the last U.S. election, the market once had a trading volume spike to $126 billion in a single day, now it has shrunk to only $35 billion, a decrease of 70%. It's like a night market barbecue stall suddenly going from crowded to the owner cooking and eating alone.
Is the fear index rising? Don't be fooled!
Today's market fear index rose from 26 to 32 (out of 100). Although it increased a bit, it's still in the 'fear' range. In simple terms, those who are trapped are still hanging on, while bottom fishers are waiting for 'further halving'.
Giant whales struggle desperately: countdown to liquidation.
Two large holders have mortgaged $84.4 million worth of ETH on a lending platform; if ETH price drops to $1,780, they will be liquidated.
A mortgaged 64,000 ETH, borrowed 68.09 million DAI, with a liquidation price of $1,786.
B mortgaged 60,000 ETH, borrowed 74.73 million DAI, with a liquidation price of $1,781.
If these two explode, ETH may directly crash through the floor price, dragging the entire market down with it.
Koreans are collectively obsessed: the whole nation is trading air coins.
Currently, there are over 16 million people in South Korea trading cryptocurrencies, surpassing the number of stock investors. Even more outrageous is that new entrants make up 33%, with more than half trading coins like PEPE and Dogecoin, which are considered 'air coins' with no technology or utility, relying purely on memes and speculation. It's a typical case of 'gamble a bit, turn a bicycle into a motorcycle', but the reality is often 'gamble a bit, and end up with nothing'.
What are institutions and big players doing?
Tether (the company issuing USDT): While printing money, they are also hiring people to work on AI, apparently wanting to transform from a 'money printing factory' to a tech company.
Hong Kong: Plans to introduce stablecoin regulations by the end of the year, and future coin issuances will require a 'protection fee'; scam projects will be shut down.
Wall Street funds: Raising $200 million to invest in Web3 and quantum computing, but with such a cold market, it's likely that retail investors can't be 'cut' anymore.
Trump adds fuel to the fire: tariffs + bombing threats.
Trump has made a strong statement that if Iran does not listen, tariffs will be increased or even 'bombing' will occur. The market fears this kind of black swan event, causing gold to immediately surpass historical highs, and Bitcoin to shake in response. After all, in times of war, funds flee to gold and oil for safety, while cryptocurrencies are left to suffer.
Summary: The current market is like a typhoon passing through, large holders are crazily testing the edge of liquidation, retail investors are risking everything on meme coins, while institutions shout slogans and secretly retreat. Trump occasionally throws bombs to scare people. Remember: making money in a bull market relies on luck, while not losing in a bear market is real skill!
(This content is for the learning and communication of crypto enthusiasts and does not constitute investment advice or suggestions. Please view it rationally, establish correct concepts, and enhance risk awareness.)
