#美联储回购协议计划 Why do retail investors always get cut in the crypto market? It all boils down to one reason—failing to see through the manipulator’s tricks.

Behind the price fluctuations, there is often a systematic trading logic.

**Stage One: Creating panic, buying at low levels**
The manipulator will suddenly dump coins at a certain moment, causing the price to plummet rapidly. Many retail investors panic—thinking the trend has reversed or that the market is "cooling off," and they start selling off their holdings. Little do they know, this is actually when the manipulator is quietly accumulating more chips at low prices.

**Stage Two: Sideways oscillation, trapping opponents**
After accumulating enough chips, the manipulator begins to create range-bound oscillations. The price fluctuates within a certain range, showing no clear direction. Retail investors lose patience in this "chaotic" market, and eventually, they can’t take it anymore and choose to exit—precisely what the manipulator wants.

**Stage Three: Pumping the market, creating a false impression**
Once enough chips are accumulated, the manipulator starts to push the price up. They also use small orders and frequent wash trades to create the illusion of a thriving market. More and more retail investors see the rising price and active trading, and can’t resist jumping in.

Those seemingly "large sell orders" are mostly just scare tactics—intended to induce panic, making it easier for the manipulator to trap you. The manipulator relies on retail investors’ "fear of missing out" and "follow-the-leader" psychology to push the coin’s price higher, then sell at the top.

**How to avoid getting cut?**
The key is to stay steady. Don’t buy just because the price is rising, and don’t sell just because it’s falling. Learn to observe the true rhythm of the market, and only act when you truly understand it—not passively follow the manipulator’s pace.

A steady mindset leads to steady hands. In a volatile market, this is the only survival rule.