This wave of decline has cleared nearly 2 billion in leverage, and even at 8.5, it only cleared 1.1 billion, marking the largest liquidation recently. After this wave of leverage is cleared, the funding rates for altcoins have returned to normal.

This decline does not have obvious reasons, and the timing was chosen in the early morning. A comprehensive judgment indicates that the main purpose of this wave of decline is to clean up leverage; all other so-called reasons are not valid.

Cleaning up leverage is all about preparing for the upcoming market trend. After this action is completely finished, the overall market will enter an accelerated phase.