Let's review some knowledge, classmates.

Systemic traps in market structure
(1) Whale Manipulation Model: The top 2% of addresses control 85% of BTC circulation. The market makers create "false breakouts" to harvest retail investors: they first use small amounts of capital to pump the price, triggering a follow-up buying frenzy, and then short the market in the derivatives market before crashing the price. Data from 2023 shows that over 68% of price surges and crashes exhibit signs of manipulation.
(2) Leverage Death Spiral When the market uses 20x leverage, a 5% fluctuation can trigger liquidation. Data shows that 83% of liquidations are concentrated during the most volatile price fluctuations from 1 to 4 a.m. (the sleeping period for Asian investors), with quantitative robots accounting for 61% of the trading volume during this time. (3) Information Fog of War Project teams manipulate expectations by creating vague positive news such as "mainnet launch" and "strategic partnerships." Analysis from Stanford University found that the frequency of emotional vocabulary such as "revolutionary" and "ecosystem" in altcoin whitepapers is negatively correlated with project lifespan (r=-0.72).