At first, no one paid attention to this crash.
At that crazy peak, it was merely seen as a 'healthy correction', a fantastic opportunity to jump on board during the bull market. KOLs shouted on social media, urging people to 'hold on' and 'buy the dip', accompanied by screenshots of their accounts showing profits multiplying by dozens, mocking the foolishness of the bears. Speculators were blinded by greed, believing in so-called technical support and that 'institutions are still entering', while a large number of retail investors, like pilgrims, rushed to stake their lives and fortunes to catch the falling knife.
However, the market did not V-shaped reverse as everyone wished; instead, it revealed its ferocious fangs.
From that seemingly invincible peak, the price fell like a kite with a broken string, plummeting in a slow decline. Day after day, week after week, the rhetoric of KOLs transformed from 'technical adjustment' to 'building a bottom here', and eventually into a deathly silence or quiet deletions of posts. Every slight rebound became a carefully designed 'trap for the bulls' by the main forces, instantly swallowed by even more fierce selling pressure.
As the slow decline evolved into a waterfall, panic began to spread like a plague. The phones of leveraged traders vibrated wildly in the dead of night, signaling margin call notifications from the exchanges, as well as the knock of death.
Months later, when the price of BTC finally broke through the psychological defense line, falling to around $32,000, the entire market fell into a grave-like silence. The once boisterous community of hundredfold coins was devoid of memes and jokes, leaving only the occasional notification of avatars turning gray.
Countless investors were obliterated in this meat grinder-like crash. Those who once appeared invincible, spouting 'financial freedom', were now staring at their zeroed accounts with vacant expressions. Bankruptcy was no longer a mere adjective; it had become a bloody reality.
The despairing emotions were thick and unbreakable. Social media was filled with hysterical curses and lifeless last words. What was once seen as the path to heaven in candlestick charts had now become a noose around the neck. Those who could not bear the enormous debts and psychological gaps ultimately approached the brink of collapse—what was once a bustling rooftop has now become the final resting place for many, with the sound of the wind echoing.
In this cold valley, no one talked about faith anymore, because simply living had become the greatest luxury.$BTC
