$ACT Crash Timeline:

1️⃣ Binance's Triple Cuts

On March 31, the single account position limit was cut from 9 million to 4.5 million, and in the early hours of April 1, it was suddenly reduced to 3.5 million, with immediate execution three hours later, forcing large holders to urgently liquidate their positions.

2️⃣ Robot Sell-off

Hedge fund robots selling spot → perpetual long positions being liquidated → triggering more robots to follow selling, forming a death spiral. Market makers hit the sell button directly to maintain efficiency, refusing to slowly sell off.

3️⃣ Contract Leverage Trap

Common tactics used by speculators: pulling perpetual contracts to eat short positions → forcing robots to buy spot for hedging → creating a price cycle of rising. However, this time, the hedging mechanism accelerated the crash during the sell-off.

(Note: The market has risks, and this article is for event analysis only)#ACT