The dealer's wash trading techniques are becoming increasingly sophisticated, leaving people in awe!

Let's review the dealer's wash trading strategy during this round of sharp decline to explore the mystery of why there are so many crashes in a bull market.

This round of the bull market is influenced by multiple factors such as Bitcoin halving, the U.S. elections, the Federal Reserve's interest rate cuts and liquidity injections, as well as the approval of Bitcoin spot ETFs, with its duration and intensity surpassing the previous three bull market cycles.

Correspondingly, the intensity of the crashes has also risen, and the dealer's wash trading methods are more deceptive. Given the current high level of market consensus, traditional aggressive wash trading has proven ineffective, thus requiring a combination strategy to achieve the washing objectives. From the perspective of this decline and wash trading situation, the dealer has taken three steps:

Firstly, Bitcoin pretended to break through market psychological expectations, breaking the $100,000 barrier to lure in buyers, and then quickly dipped, falling from $104,000 to $90,790, a drop of 13,210 points, or 13%. This sharp drop aimed to clear various leverages, resulting in a total liquidation of $1.098 billion across the network, of which long positions accounted for $816 million. At that time, altcoins did not significantly follow the drop, creating the illusion that Bitcoin's spike was merely due to the liquidation of leverage and that altcoins would continue to rise.

Secondly, in the early hours of the 10th, Bitcoin continued to decline, with the decrease actually being limited, while altcoins suffered heavy losses. Traditional mainstream altcoins such as ETH, XRP, ADA, SOL, as well as popular new coins like SATS, SSV, and FET, all plunged 15% - 20% within 30 minutes, with overall declines generally exceeding 30%, and some even halved. This round of decline was the most brutal, causing 570,000 contract players to lose everything.

Thirdly, after the sharp decline, a spike rebound attracted retail investors to buy the dip, but the market hesitated. It wasn't until the early hours of the 11th that a second bottoming attempt began, nearly reaching new lows, shaking many contract dip buyers out of the market and turning many potential dip buyers into spectators. Subsequently, when retail investors were caught off guard, a rapid rise occurred, further igniting retail FOMO buying sentiment.