Bitcoin plunges, $1 billion evaporates, confirming the crypto bull market!

At 6 AM, Bitcoin plummeted by 0.1 million in an instant, reaching close to $0.09 million and quickly rebounding, back to $97,000. This sharp 10,000-point drop in just one hour brought the liquidation amount of the entire network in 24 hours to $1.04 billion. In fact, from the funding rates of major platforms yesterday, it was already clear that too many people were hoping for Bitcoin to continue rising, or chose to chase long positions when Bitcoin rapidly reached the $0.1 million price.

Avoid contracts; this is the biggest lesson I believe cryptocurrencies have taught us.

The cryptocurrency community is filled with many myths of getting rich quick, but those are survivorship biases. If you want to achieve stable income, there are generally two ways. One is to take idle assets for long-term investment under the premise of stable income. If you don't have time to research altcoins, opt for regular investment in major cryptocurrencies, which can outperform many investment methods. Of course, appropriate investment in altcoins may provide higher returns, which we can discuss later; the other way is to focus on day trading with Bitcoin. I suggest those interested try simulated trading first before participating in some proprietary trading challenges. The costs are low but can help you train your management and trading skills with large funds. However, this requires long-term practice, and we still do not know how long the cryptocurrency boom will last.

Let me explain why I mentioned "confirmed as a crypto bull market" in the title?

In fact, this rapid injection clearly shows that institutions want to liquidate the leverage and liquidity associated with Bitcoin, enabling them to achieve greater manipulation with less capital (simultaneously, they do not want everyone to profit from this ride). Therefore, the rapid injection and quick withdrawal over a short period of time indicate their intention to drive the price of Bitcoin higher. The characteristics of a bear market are different; institutions will repeatedly break through support levels, then wait for retail investors to "buy the dip", pushing the price back at resistance levels, repeatedly pressing down the price and draining the liquidity of retail investors.