In one night, over 580,000 people were liquidated. What should we do next?

Bitcoin and Ethereum have plummeted significantly, and the drop was indeed quite severe, causing altcoins to crash today as well, with bloodied chips everywhere. Do you dare to pick them up? Most people lose money in a bull market; the money you make is the money others have lost. Just a few days ago, we started warning everyone about the risks, and we didn't expect it to come this quickly. This could just be the beginning. A rapid drop with a spike is not scary; what is truly terrifying is a slow, steady decline that lasts one to two weeks, grinding you down until you panic sell and exit, only to see the market rise again afterward.

Everyone should avoid holding onto positions. Cut losses when necessary, and do not use high leverage. I've mentioned this several times! Last night, even a 30x leverage position might not have been sustainable during that spike, let alone a 100x leverage position. It is bound to explode! During this time, I advise everyone to observe more and act less. Engage in short-term trades appropriately, and do not hold positions overnight. Waking up to find your account wiped out is truly distressing.