$BTC has been liquidated!
A large trader opened a long position at the 104800 level.
Contract data shows that large traders are going long, while retail investors are going short.
Liquidation occurred around the 107000 level.
Moreover, people are very excited. The contracts are getting larger and larger.
Lost about 200 yuan.
Cryptocurrency is highly volatile.
Every trade is a gamble against the market makers.
The market makers' goal is to exploit the retail investors.
Retail investors short, and the contracts will rise.
Market makers can cover their positions.
Market makers sell the spot. Prices drop.
Market makers have the most contracts, retail investors short. Buying the spot raises prices.
Market makers short contracts, retail investors long. Spot is sold.
Funding rate is negative, market makers push the price up.
Funding rate is positive, most people are bullish. Market makers push the price down.
Price spikes up, then crashes! Price spikes down, then rallies.
There is no pattern!
Around 106300. Market crash. I shorted at 105700. Thought it would plummet.
Resulted in a crash to 105200. Then a rebound. It went all the way up to 107200.
Repeatedly jumping around.
I believe that the altcoin will definitely drop, but the market makers are manipulating the price.
The biggest risk of contracts is not knowing when the market makers will manipulate the price!
The biggest risk in cryptocurrency is that, essentially, it is a game. However, in this game, the market makers' cost is zero.
20 million market cap, 1 million liquidity.
Retail investors going long or short will increase liquidity!
So that little bit of liquidity, the market makers can easily reclaim it.
Cryptocurrency needs fame. Famous people, well-known individuals issue air coins.
The goal is to get people to participate, to buy and sell.
99% of altcoins ultimately end up at zero!
It must lack popularity, and the market makers will sell. No one is playing anymore.
So in the end, it goes to zero!
Going to zero is a very long process.
Market makers keep washing the market, repeatedly exploiting retail investors!
