Using 10,000 BTC as cannonballs, crashing the market with 70,000 to profit 80,000 from the dog trader's ATM

Classic Operation:

Step 1: Open a short position of 10,000 BTC (10x leverage), cost ≈ 1 billion USD;

Step 2: Use 70,000 BTC in spot to crash the market in batches, triggering panic and a 20% drop;

Step 3: After the crash, the short position profits 80,000 BTC, while the spot loss is covered by short profits, resulting in a net gain of 10,000 BTC!

The Bloody Incident Reoccurs:

In March 2024, a certain whale operated simultaneously on Binance + OKX, crashing ETH and causing an 18% drop, netting a profit of 230,000 ETH (≈ 700 million USD), with 4.5 billion liquidated across the network!

Why are retail investors the sacrificial lambs?

On-chain Trap: Before the crash, the whale's address disguised itself as an “institutional custody wallet” (labeled Gemini Custody), leading retail investors to mistakenly believe in “institutional support” and instead bottom-fish!

Data Overwhelming: The 70,000 BTC crash volume ≈ 15% of the total 24-hour trading volume across the network, enough to manipulate short-term prices; if you follow the trend, you will die!

Recognizing the Three Tricks of Dog Traders (with real trading evidence)

“Cannonball Early Warning System”:

If a whale address transfers over 5,000 BTC to Binance in a single day, immediately check Arkham's short monitoring—if the open interest in contracts surges by 300%, it must be the night before the crash!

“Life-Saving Hedge”:

When encountering large transfers to exchanges, open a short position of equal amount with full spot holdings (e.g., holding 100,000 USD in spot, simultaneously open a 100,000 USD short).

“Stop-Loss Coffin Nail”:

If during a crash the buying depth at the exchange is < 10% of the crash volume (e.g., if crashing 70,000 BTC, buying must exceed 7,000 BTC), cut losses on long positions within 3 seconds.

What you perceive as a crash is a crisis, but in the eyes of dog traders, it is a well-calculated withdrawal password—your flesh and blood is their profit formula!

In the last round, BTC flash-crashed to $58k, a certain whale operated in reverse: opened long positions before the crash, and used short profits to bottom-fish at the end of the crash, netting 120,000 BTC in 72 hours; in the slaughterhouse, the difference between hunter and prey is just one set of tools!