Today is June 29.

The weekend just ended last night, and early this morning, the Asian market opened with a huge shock: South Korea's stock market (KOSPI) directly triggered a circuit breaker!
Glancing at the plaza, a bunch of fake analysts are still looking for geopolitical reasons, which is really laughable.
What did I tell you before? When reading news, you need to focus on the core!
This is already the fifth circuit breaker for the South Korean stock market this month. This is not some sudden geopolitical crisis, but a financial stampede caused by the bursting of the global AI and semiconductor chip bubble, and a chain of high-leverage fund liquidations!
Samsung and SK Hynix, two chip giants, account for nearly half of the market cap of the KOSPI index.
Now, global skepticism towards US big tech companies and the monetization ability of AI is growing heavier. Coupled with the continuous sharp drop after Musk's SpaceX IPO a few days ago, foreign capital is fleeing frantically. High-leverage margin positions are being mercilessly liquidated by exchanges, directly crashing the entire South Korean market.
What does the circuit breaker in the South Korean stock market mean for the crypto space? This is the signal of "ultimate liquidity exhaustion" that I have been waiting for!
I searched the internet for the latest news on the crypto market over the past couple of days, and the data is extremely honest.
Bitcoin $BTC ‌ has officially broken below the $60k iron bottom that had been held for nearly two years a few days ago, and today it is still around $59,000, unable to muster any strength.
The head of BlackRock publicly admitted: Since the beginning of this year, AI concept stocks have been too attractive, completely sucking away the off-market incremental funds that originally belonged to cryptocurrencies and gold.
The crypto market has no off-market funds entering to take over, relying entirely on contract leverage to prop it up.
Now, even the notorious "kimchi premium" has turned negative, indicating that local South Korean retail investors themselves are cutting losses and fleeing. How could they have spare money to step in and buy in the crypto market?
Currently, on large prediction markets like Kalshi, the vast majority of seasoned traders are already frantically betting that Bitcoin will fall to $58,000 or even lower.
Long-term derivatives market makers are frantically selling spot positions to hedge risks, and systemic risk is accelerating its transmission.
Returning to my actual trading stance, the script has completely matched:
A few days ago, I got carried away and got liquidated on both sides. After reflecting on the pain, I told myself that I must respect the system and learn to wait.
Now, with Bitcoin breaking below $60k, the weekly and daily bearish formations of Ethereum $ETH have fully shown a pattern of "accelerated downward slaughter."
Don't look at any intraday pullbacks of a few dollars or tens of dollars and think "the bull is back, quickly return" to bottom-fish.
In this thunderstorm of global financial assets plummeting in sync, any small rebound is a trick by the market makers to provide fuel for shorts and lure in longs for a targeted explosion.
The overall direction is firmly bearish, no need to doubt.
After Bitcoin breaks below $60,000, the bulls' lifeline is completely severed. The next step in the big cycle is to honestly look at $22k; with Ethereum unable to break above $1,622, the major target of $1,400 is right in front.
Being numb from losses is not scary; the scariest is being numb from losses and still stubbornly fighting the trend.
Recently, the broader market has entered the eve of a "gods fighting, mortals suffering" black swan event.
Control your hands, strictly execute system levels, and set your stop losses properly.
If you understand, give a like. See you at the ultimate target of $1,400! #TradFiCFD黄金大师赛