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The black swan has swept in, adding a particularly profound impact to everyone's crypto career. The contract liquidation has set a historical record, and some people might go from rich to poor because of this drop, always needing to have a sense of reverence for the market. Such a magnitude of decline will lead many to try to catch the bottom, but if everyone can catch the bottom, it definitely won't be the bottom. When trying to catch the bottom, any rebound profit should definitely be taken.
Spot can go back, but if it gets liquidated, then there's nothing left.
A needle down and BNB returns to 880, all the longs are wiped out, and some people might even owe the platform.

This turmoil can be summed up as the sudden outbreak of geopolitical risks. The China-U.S. trade relationship has always been sensitive, and this outburst from Huang Mao essentially ignited the powder keg directly. What the market fears the most is uncertainty, and the escalation of the trade war is precisely one of the greatest uncertainties.
It seems that we need to closely monitor the statements from both China and the United States moving forward. If both sides continue to confront each other, the market is likely to remain volatile for some time. As for cryptocurrencies, although they are claimed to be safe-haven assets, in the face of this global panic, they still primarily play the role of high-risk assets.

This wave has really kicked off the bull market! All contracts are gone, and leverage is completely over!