#数字资产市场洞察 Rapid reversal in 24 hours: pump → Plummet, 67,000 people became the cost.

How is the market moving?

On the evening of the 20th Beijing time, the cryptocurrency market suddenly rebounded collectively, and mainstream coins turned red collectively; by the morning of the 21st, the rhythm took a sharp downturn, with $BTC, $ETH and other major players plummeting. The contrast was so great that it caught people off guard.

Data speaks:

The statistics from CoinGlass are shocking—over 67,000 people have been liquidated in the past 24 hours. Both longs and shorts are getting hit, which is a typical "double kill" situation.

Why is this happening?

On the surface, it appears to be market fluctuations, but it fundamentally reflects the drastic swings in market sentiment. Capital is repeatedly jumping between the expectations of "the interest rate cut cycle will come" and "the short-term increase has already overheated"; whoever bets on the wrong direction will pay the price. Those high-leverage traders are the first to become the biggest victims.

The most critical point:

When the macro environment dominates pricing, any short-term surge may just be a sentiment-driven trap rather than a true starting point for a trend. Understanding people is much more important than chasing highs.