After BTC fell below $74,500, I discovered a truth that everyone has overlooked

Last night, after the market plummeted, many people were discussing the same question:
Has the bull market ended?
In fact, this might be asking the wrong question.
What truly matters is not how much the price has fallen, but why capital is leaving.
The superficial reason for this crash is the escalation of the Middle East situation.
But the deeper reason is actually market leverage being too high.
When the market rises for too long, many start to think making money is easy.
So tenfold leverage, twentyfold leverage are everywhere.
As a result, when a negative news hits, chain reactions of liquidations begin.
The cruelest part of the market is:
Rising is driven by buying pressure.
Falling is accelerated by liquidations.
Therefore, often, the decline is far greater than the negative news itself.
But it is precisely because of this that after each major cleansing, the market structure becomes healthier.
Weak hands exit.
Long-term investors stay.
Short-term sentiment recedes.
True value re-emerges.
So at this stage, instead of guessing whether it will rise or fall tomorrow, it’s better to focus on whether the market has completed deleveraging.
Because history tells us that many major trends quietly start when no one dares to buy. #24h加密合约清算破4亿美元