In a bull market, sharp declines occur frequently, driven by a series of market manipulation considerations. Firstly, the market needs to create significant volatility to 'wash' the market—i.e., to eliminate retail investors. Retail investors generally have a strong willingness to hold stocks and a high level of stickiness, making them reluctant to easily sell their assets. Therefore, a sharp decline is necessary to force them to sell. In fact, sharp declines may need to happen repeatedly to effectively wash away most retail investors.

So, why is it necessary to wash out retail investors? Many may think that it would be better for everyone to make money together. However, from the perspective of market leaders, the situation is not so simple. Without new funds flowing in, if retail investors are not washed out, the leaders will face immense financial pressure when pushing up coin prices. Once retail investors make a profit, they often choose to sell, which causes the leaders to constantly encounter selling pressure during the lifting process, increasing costs, almost as if they are 'carrying the sedan chair' for the retail investors.

Therefore, after washing away retail investors through sharp declines and other means, the market will become clearer, allowing the leaders to continue pushing up coin prices without the interference of retail investors, and without selling pressure, subsequent increases will be smoother. This operation helps the leaders gain a larger profit margin and provides better upward space for future market trends.