The entire crypto market is here to take advantage of your weakness.

I woke up early and saw that the crypto market had collapsed.

Overnight, Bitcoin (BTC) once fell below 28k, which is lower than the 519 spike last year. Ethereum fell to 2k. UNI fell below $5. As for FIL and ICP, which we once criticized, they fell to as low as $7 or $8.

There was a total collapse, and no one was spared.

Looking around, everything is devastated.

The entire crypto market seemed to have suffered a nuclear attack. Finally, no sector or project dared to go against the trend.

This wave of short-selling attacks seemed to be well prepared and determined to win.

I will kill you while you are sick.

Completely kill any fantasy of a rebound.

Completely extinguish any fantasy about the bull market in the future.

The chips in their hands cannot be snatched away unless they are made completely desperate.

The crypto market can’t force you to hand over your chips at gunpoint. It can only inspire your greatest inner fear.

Fear is the gun of the market.

According to online rumors, Blackrock and Citadel borrowed 100,000 bitcoins from the Gemini exchange.

UST was purchased with 25,000 Bitcoins.

What’s even more amazing is that they called LUNA’s founder Do Kwon and said they wanted to exchange Bitcoin for UST. Because the amount was so large, they didn’t want to operate in the secondary market to avoid causing market fluctuations.

They hope to be able to trade directly in bulk. They are willing to accept a certain discount.

Do Kwon, who was hoarding Bitcoin in the secondary market as a UST reserve asset, was overjoyed when he heard the call and agreed immediately.

He fell into the trap.

He sold a large amount of UST, which greatly reduced the liquidity in the market.

Taking advantage of the opportunity of UST pool change, the big short sellers took action.

The frantic selling of Bitcoin and UST quickly triggered the depegging of UST.

The depegging triggered market panic and started the death spiral of LUNA/UST.

Accurately lock the throat and kill with one blow.

In the midst of laughter and conversation, LUNA was reduced to ashes.

The big short sellers know very well that LUNA's Achilles' heel is Anchor, the stablecoin financial management protocol that uses high APR to attract UST lock-up.

Hard promises will lead to a Ponzi scheme.

Partial reserves form leverage.

No Ponzi leverage can withstand an attack of 100,000 bitcoins.

Ponzi schemes and leverage are the cancer of the market.

In order to keep the body healthy, cancer cells must be eliminated.

As a strictly regulated market (the United States has the strictest regulation, see the Sarbanes-Oxley Act), the traditional financial market adopts interventional treatment methods such as radiotherapy, chemotherapy, and surgical resection.

As a super-free market with little or no regulation, the cryptocurrency market can only adopt one approach, which is autoimmunity.

Bitcoin is the immune cell of the cryptocurrency market.

Please note: The attack power of Bitcoin increases with the increase in the price of the currency.

When Bitcoin was $3,000, 100,000 Bitcoins only had the destructive power of $300 million.

When the price of the coin was $30,000, 100,000 coins would have the destructive power of $3 billion.

If we take into account additional casualties and secondary damage, the number will be several times higher.

Just as I wrote in "There is No Second Half at the End of the Year" in the second half of last year, Wall Street is not here to give benefits to retail investors.

If institutions allow retail investors to make money easily, it would be a disgrace to Wall Street's hundreds of years of financial expertise.

The entry of professional institutions will only make it more difficult to make money in this market, not easier.

The only thing that becomes easier is losses.

The U.S. stock market was once full of retail investors. But what happened later? Weren’t they slaughtered by Wall Street?

What's more, in the cryptocurrency market, there is no one to protect retail investors. You can only rely on yourself.

If retail investors can make money easily on their own, who would hand over their money to institutions and let them earn service fees, management fees and handling fees for nothing?

In other words, under the law of the jungle, only those who are smarter than institutions can survive.

Don't be clever. Always respect the market.

If the market is not cleared, leverage is not exposed, and weak hands are not eliminated, how can the body recover and how can the market continue to move forward?

When markets are violently cleared, we know that they are repairing themselves and returning to health.

A healthier market means a brighter future.

The road ahead is as hard as iron, but now we can start over.

Starting from the beginning, the mountains are like the sea and the setting sun is like blood.