Ethereum/altcoin flash crash, Bitcoin remains stable.
Every time the market drops, there are always people looking for reasons, saying the bull market is over or that Ethereum/altcoins will have a major correction for months.
The analyses from big players make one feel that they have not experienced a bull market, as there is no flash crash in a bull market.
If the bull market is over, it should be Bitcoin leading Ethereum and altcoins to crash together, and there is no scenario where old coins rise while new/less popular coins do not move in a bull market.
Today's flash crash is similar to the one on the 6th, occurring around 5 or 6 AM, taking advantage of the Asian market's rest to explode leverage, not giving any opportunity to buy the dip.
This round of the bull market does not have a background of significant monetary easing; a price surge requires low leverage, and Bitcoin does not crash due to the lack of demand for clearing leverage.
The funding rate for altcoins had previously soared, but after the flash crash, most have returned to normal; the essence of a flash crash is to clear leverage, and it works well.
Ethereum and altcoins have not accelerated yet, some are still at the bottom, saying that altcoins will have a major correction is unreasonable; does making new lows allow retail investors to buy the dip?
In summary, the essence of a flash crash is to clear leverage, the goal has been achieved, the daily chart for altcoins is healthy, and they will not linger at this level for long; clearing leverage is for the subsequent acceleration of the market.
