Yesterday, the liquidation volume of Ethereum was the largest single-day liquidation in five years, indicating two issues. First: Why did so few people open positions when Ethereum dropped from 4000 to 1400 previously, even though that period saw a much larger decline than yesterday? Second: Why have we only heard about certain liquidations from start to finish, without hearing about anyone who bought at the bottom and has held until now? To put it plainly, after the main players push the price up, you shouldn't worry about a lack of participation; this circle is mostly made up of retail investors, whose emotions follow the price. As the prince said two months ago, the higher the price rises, the more retail investors lose. The rise is about making retail investors lose, not about benefiting them. The same principle applies to Bitcoin, Ethereum, and altcoins.