Tonight, the cryptocurrency world staged another terrifying night! Bitcoin plunged from around 106,000, and mainstream coins like Ethereum and Dogecoin also collectively collapsed. This wave of false hope is truly absurd; it makes the instant noodles in my hands taste bland...

A few key points worth noting:

1️⃣ Severe liquidations: In just a few hours, $200 million was liquidated across the network, with 100,000 investors getting wiped out; leveraged traders are crying in the bathroom.

2️⃣ Security issues erupt: Coinbase was reported to have its customer service infiltrated by hackers, leading to a 7% drop in stock price. Just after entering the S&P 500, this happens—what a slap in the face!

3️⃣ Real-world threats intensify: Over in France, cryptocurrency tycoons have been continuously kidnapped, with ransoms reaching several hundred thousand euros, making people feel uneasy.

Personal observations:

- This drop is not merely a technical adjustment; it reflects a trust crisis within the entire industry.

- The strengthening dollar is also causing funds to start withdrawing from the cryptocurrency market.

- Those air coins relying on celebrity endorsements (like one endorsed by a Japanese star) plummeted 87% in one day, further dragging down market sentiment.

Advice for my friends:

✅ Control your leverage; don’t become a liquidation hero.

✅ Store large assets in cold wallets, but also pay attention to personal safety.

✅ Stay away from pure hype coins.

How long do you think this adjustment will last? Is it a bottom-fishing opportunity or a precursor to a bigger storm? Feel free to chat in the comments~ Follow me for the latest market analysis and to help you avoid pitfalls in the crypto world! #暴跌