#数字资产行情上升 The trading data in the past 24 hours is a bit shocking—$441 million in positions wiped out, over 128,000 traders liquidated directly, with longs accounting for 65%. Looking at this number may feel brutal, but within the entire market ecosystem, it’s actually a healthy signal.

A review of Bitcoin’s price movement makes this clear. From the high of $95,000 down to $92,000, the process thoroughly washed out highly leveraged longs. Funding rates cooled down accordingly, indicating that market speculation is beginning to fade. After each large-scale liquidation, it’s often a prelude to bottoming out—the speculators relying on unrealized gains are pushed out, leaving behind those with genuine confidence for long-term holding.

On-chain data shows that the number of addresses holding coins for a very long time is increasing. These investors generally don’t panic sell due to short-term fluctuations; their presence usually signals the brewing of the next growth wave. So rather than being scared by liquidation numbers, it’s better to understand this as market self-regulation and paving the way for a rebound. $ETH follows the same logic.

However, here’s a wake-up call: if you’re using high leverage, now is the time to seriously reflect. The volatility of the crypto market far exceeds that of stocks and bonds—percentages of rise and fall of dozens of percent within a short period are common. Risk management is no small matter; it should always be the top priority in your strategy.