Ethereum/altcoins flash crash, but Bitcoin remains steady. Every time the market drops, there are always strong reasons given for the decline. Either the bull market has ended, or Ethereum/altcoins are set for a major correction that needs a few months to adjust.

The analyses from the experts make me feel like they have never experienced a bull market. When has there ever been a bull market without a flash crash?

If the bull market has ended, then it surely means Bitcoin is crashing along with Ethereum and altcoins, and there has never been a bull market where old coins soar while new coins/next-gen coins stay stagnant. A bull market only for old coins has never happened.

Today's flash crash is similar to the one on the 6th, occurring at around 5 or 6 in the morning, with a clear intention to exploit leverage during the Asian market's rest period, without giving you a chance to buy at the bottom.

This round of the bull market lacks a backdrop of significant liquidity injection; the premise for a rally must be that the market is light enough. The market cannot sustain a rally with excessive leverage. Bitcoin's stability is due to its lack of need to clear leverage.

During this time, the funding rates for altcoins have surged; after this crash, most funding rates have returned to normal, which is the goal—essentially to clear leverage.

Currently, Ethereum and altcoins have not yet accelerated; some are still at the bottom. If, as some say, altcoins are due for a major correction, does that mean creating a new low for retail investors to buy the dip? That wouldn't be reasonable.

In summary, my view is that today's flash crash is fundamentally about clearing leverage, and it has been effective in achieving its purpose. The daily charts for altcoins are actually quite healthy and will not linger at this position for long. The aim of clearing leverage is to prepare for the acceleration of the upcoming market!