#BTC☀ #Write2Earn!

The cryptocurrency market is going through a challenging phase that I warned about since this morning. $BTC has continuously set new highs, however, it is noteworthy that other coins, including Dogecoin ($DOGE), have not seen any movement. This clearly creates a significant disparity in the price action of the market.

A liquidation chart can reveal many aspects of this situation. We see that trading volume is increasing, and the number of participants in trading is also on the rise. However, the relentless surge of Bitcoin has not led to a strong buying sentiment from investors.

When we look at the liquidation statistics, we will notice that most of the liquidated orders are buy orders. Although Bitcoin is still on an upward trend, many traders are struggling with liquidating their buy orders. This can be explained because other coins are not experiencing synchronized growth, only Bitcoin is booming.

An easy comparison is like a child who only grows taller without gaining weight, which would make others see it as a deformity. The current market is facing a similar issue; only Bitcoin is rising while other coins remain stagnant, leading to a high risk of an unexpected collapse. If Bitcoin starts to decline, the question arises: how will other coins react? Perhaps, it will be a race to find the bottom.