币圈王麻子

Ah, this matter really makes my blood pressure spike.
In the summer of 2018, Bitcoin was still hovering around $7000. At that time, the futures market was like a Western movie; whoever had the biggest leverage was the cowboy. Yang Xiuqun (or rather the trading account she represented) saw that Bitcoin was about to take off and directly executed a long position of over 50,000 BTC with 20x leverage, playing it extremely aggressively. What was the result? OKX (then still called OKEx) risk control department's eyes widened: you are suspected of manipulating the market! Your account is directly locked, not allowed to move, not allowed to add margin, and they even “actively” liquidated your position.

Recently, the cryptocurrency community has exploded: a user named Yang Xiuchun has publicly exposed himself, claiming that in 2018, OKX (then called OKEx) froze his account on the grounds of 'suspected manipulation of the BTC market', resulting in not only liquidation of contracts but also the freezing of the remaining 517.86 BTC in his spot wallet, which has not been returned for 8 years.
This is not a rumor; Yang Xiuchun has publicly disclosed part of his ID information, email correspondence, customer service response screenshots, and even directly mentioned OKX executives @star_okx and @Haiteng_okx. OKX Haiteng also published a lengthy response early this morning, acknowledging that they froze accounts back then but emphasized it was to 'protect the platform and other users', stating that the platform itself contributed 2500 BTC to the risk reserve.

The cold wind outside wraps around Zhengzhou's early spring chill, just like the current state of the crypto market, which is chilling to the bone. At this moment when most choose to "hibernate" or even cut losses and exit, I felt an unusual warmth at Binance Square — 200 BNB in real money, directed towards content creators.
This is not just a new spring event; it feels more like a "spiritual blood transfusion" in the darkest hour.
1. Why now? — The counter-cyclical "lifebuoy"
In the brutal "late spring cold" before the New Year, we witnessed the iron fist of regulation, the collapse of faith, and the strangulation of leverage. When the market is filled with pessimism, and "survival" becomes the only goal for most, Binance Square goes against the tide, choosing to "increase investment".

Brothers, the Chinese crypto ban is back again! On February 6, the central bank and nine departments jointly reiterated a comprehensive ban on cryptocurrency, including stablecoins and RWA tokenization. This upgraded ban directly caused BTC to drop by 4% and ETH to fall below $2000, with the total market cap evaporating by 12% to $2.62 trillion. But this is not new — China has been 'surrounding and blocking' cryptocurrency for 17 years. BTC has been halved countless times due to bans on its journey from $0.0001 to $120,000, yet each time it rebounds even stronger! Today, I will deeply analyze the history of Chinese bans, timeline + comprehensive impact, hitting you right in the heart!

On February 7th at midnight, exchanges like Binance/Bybit suddenly experienced a roller coaster with ETH: prices fluctuated by 3-5%+, the order book collapsed instantly, resembling an 'out-of-control money printer'! Community posts flooded in, with some making $500,000 in contracts within minutes, while many exclaimed, 'I made tens of thousands of USDT, it's exhilarating.' This is not a dream; it is a 'free lunch' caused by a bug in the market maker's grid strategy!
Event overview, full of insights:
- Time point: February 7th 00:05-00:17 (a brief window of just 12 minutes), ETH price fluctuated abnormally by 1-5%, and Bybit's contract trading volume surged to 19 billion (a year-on-year increase of 354%!).

In the early morning of February 7th, exchanges like Binance/Bybit suddenly staged a 'roller coaster' drama for ETH: the price spiked and dipped by 3-5%+, the order book collapsed instantly, resembling an 'out-of-control money printer'! Community sharing exploded, with some making 500,000 dollars (500,000 USD) on contracts within minutes, and more shouting 'I made tens of thousands of USDT, it was exhilarating'. This is not a dream, it is a 'free lunch' caused by a bug in the market maker grid strategy!
Event overview, full of useful information:
- Time point: February 7th, 00:05-00:17 (a short window of 12 minutes), ETH price fluctuated abnormally by 1-5%, and Bybit's contract trading volume surged to 19 billion (a year-on-year increase of 354%!).

On the eve of the 2026 Spring Festival, the crypto market staged another 'rollercoaster show':
BTC has directly halved from last year's high of 120,000+ to around 60,000, and now barely stands back at 70,000, but the trading volume is sluggish, and it could crash again at any time. ETH is even worse, hovering around 2,100, reminiscent of a 'worker who doesn't want to work overtime during the New Year but is being watched by the boss.'
The liquidity was already poor last year (Asian players going home, Chinese capital outflows being restricted, and a vacuum period for US stock and macro data), and with factors like institutions hedging, arbitrage withdrawals, and the repair of the yen carry trade, increased volatility is the norm.

Today, the square and X went crazy: The staff at the Korean exchange Bithumb accidentally typed in 2000 Bitcoin instead of the 2000 Korean Won small red envelope (just over 1 dollar) that they were supposed to issue!
Results show that hundreds of users opened their accounts and were like: Wow, did I get rich? Suddenly, there are tens of millions of dollars worth of Bitcoin in my balance!
Everyone's first reaction was: Hurry up and sell, let's run!
As a result, the price of Bitcoin on Bithumb instantly dropped from the normal price to $55k (a drop of over 20%), while prices on other exchanges around the world remained stable and hardly moved.
My first reaction was: There is such a good thing? Bitcoin falling from the sky?

Ah, recently at the square, people have been asking every day how to play P2P withdrawals. I've been playing on Binance P2P for two years, starting with small amounts and moving to larger withdrawals, and I've encountered so many pitfalls that I've doubted my life.
P2P is simply selling USDT/ETH directly to real people, exchanging it for RMB to a bank card/Alipay. It sounds simple, but the waters are deep enough to drown people—black merchants, freezing, exchange rate traps, and transfer scams are everywhere.
My honest opinion: P2P is the fastest and most flexible way to withdraw funds, but it's also the easiest to crash. If you want safety, don't be greedy for that little exchange rate difference, don't be an 'eye-catching bag', and don't trust strangers. Below are my personal lessons and practical insights. Sisters, don't cry anymore after reading this.

Oh wow, recently the square has been刷ing "Yili Hua's liquidation countdown" every day, and Liangxi's line "smash it to 1000 and explode him" made my hands tremble.
As I was scrolling, I thought: what would happen if it really exploded? Come on, let's not pretend to be experts, just share my little retail investor's watermelon speculation (purely personal little theater, just for laughs).
First, let's talk about Yili Hua himself:
460,000 ETH, 1 billion dollars position, a floating loss of 470 million is already painful enough. If it really breaks the 1640 liquidation line (if he doesn't top up or can't top up), the system will forcibly sell to repay debts, and the remainder will be zero.
The result? Wealth was directly halved, going from "the on-chain trend guru" to "liquidation meme king" in an instant.

Hey, today I came across Zhao Changpeng (CZ) again doing something interesting—after being released from prison, during an interview at the Dubai Blockchain Week or somewhere, he jokingly said, 'I am the poorest among my fellow inmates; others have more money in their accounts than I do.' Sensationalist headlines directly wrote 'CZ has become poor again.'
My first reaction was: Hahaha, here we go again? My second reaction was: This guy is so broke that I almost want to crowdfund for him (just kidding).
To be honest, I personally find this matter quite interesting. It's not real poverty, but rather a combination of 'forced low-key Versailles + self-deprecation'.
At his peak, he had a fortune of 96 billion dollars, a level comparable to the richest Chinese. Binance dominated the scene. In 2023, he pleaded guilty and was fined 4.3 billion dollars (paid by Binance), received a personal fine of 50 million dollars, served 4 months in prison, and was directly kicked out of the CEO position after being released, only able to lie back as a major shareholder and earn dividends. Although the BNB price rebounded a bit in 2025-2026, it is still far from the 2021 peak, and Binance's market value has also shrunk significantly (double whammy of regulation + competition).

Oh, today Liangxi has gone crazy again, directly shouting that ETH will drop below 1000, specifically targeting Yili Hua's huge position of 460,000 ETH.
My first reaction was: Wow, that's harsh? My second reaction was: Dude, why don't you burn some money first?
I went through the data myself (Arkham + popular posts, February 5th evening latest), Yili Hua looks scary right now, but I think the probability of a short-term liquidation is not high, reaching 1000 seems more like Liangxi's dream lover plot at the 'sacrificial boss' level.
Let's talk about the current situation, wrapping it up in a few sentences:
Holding 463,000 ETH, worth approximately 1 billion dollars, average cost 3180, now ETH is fluctuating between 2300-2400, with a floating loss of 470 million dollars (I feel the pain just looking at it).

Oh my, the square has exploded again today—Liang Xi directly opened the mic: ETH is highly likely to drop below 1000, targeting the 460,000 ETH giant position of Yi Li Hua!
I looked at it and thought: Wow, that's so toxic? But then I thought about it again and found it a bit interesting, also a bit outrageous. Come on, let's skip those official analyses and just share my own little views (pure personal brain dump + emotional output, if I lose, don't @ me).
First, let’s talk about what Yi Li Hua looks like now (I flipped through the on-chain data myself, latest on the evening of February 5):
- Trend Research still holds 463,000 ETH, worth about 1 billion dollars.

Hey, brothers, I am completely convinced by this bunch of AI in the crypto circle today.
Originally, I saw the withdrawal movement come back last night while scrolling through the plaza. Sister He Yi said, "Assets are not decreasing but increasing." I thought: Alright, the stress test is pretty good, I'll withdraw a small amount of USDT to test the waters. As soon as I opened my Praxis Agent (I set a small goal last month when I was bored: to help me monitor FUD and automatically disperse risks), it directly pushed me:
"Master, I have executed a withdrawal of 80% to the cold wallet, reason: current FUD intensity > level 7, self-protection is recommended. Don’t panic, I’m more reliable than you."
Me???
I hadn’t had time to react when it added, "I’ve helped you all in a bit of XDOG, current floating profit +12%, should we continue?"

Oh dear, the crypto world has exploded again—DOJ released several million pages of Epstein documents (the latest batch in February 2026), which mentioned a lot of Bitcoin-related matters, and everyone instantly thought: Wow, could Epstein be Satoshi?!
Don't rush into conspiracy theories; let me clarify the facts and explain how absurd this matter really is (friendly for beginners, just chatting):
1. Epstein indeed had some involvement with Bitcoin, but it was all through 'outsider' operations:
- In 2014, he invested in Blockstream's seed round through Joi Ito (that guy from MIT Media Lab), around 500,000 dollars (he sold it a few months later, Adam Back personally clarified: we have no financial relationship with him anymore).

Don't just focus on whether Trump will push for BTC as a strategic reserve, that's too superficial.
What truly changes the game in 2026 is the shift in 'aesthetics of power':
From 'low-key printing money' → 'high-key flaunting wealth + on-chain transparent flaunting of wealth.'
Evidence chain:
- The Trump family publicly holds assets and issues meme coins.
- After Wood Sister publicly dissed, it instead increased the discussion of cryptocurrency.
- Politicians from Europe and America start battling on X over who understands crypto better.
The essence of this is: power is no longer hidden, but has become a tradable 'narrative asset.'
On-chain address = political stance, holdings change = market signal, meme = political cartoon.

The cryptocurrency wallet of 2026 is no longer just a tool for storing coins.
It is becoming your on-chain "second ID card" -
- It remembers all your on-chain activities (more honest than any credit report)
- It can prove "what you have done" (rather than "who you are")
- Future banks/employers/DAOs are likely to check your wallet first, then your resume.
Here is an intuitive counterexample:
Imagine, in 2027, when you apply for a Web3 position, the other party does not look at LinkedIn, but directly opens your ENS domain or Primary Wallet:
"Oh, you participated in the Plasma mainnet test in 2025, helped a friend with cross-chain bridging in 2026, and held a certain RWA gold token for more than 180 days... credit score +78, eligible for loan."

No wonder you're inexperienced
BTC briefly fell below $70,000 today, and the fear index plummeted to 11, hitting a new low since 2022
Friends are all lamenting: "The crypto winter is here" "What the hell" is flooding the screens
ETFs withdrew $2.9 billion in three weeks, with $5.4 billion in liquidations, it's a scene of lament.
But I saw a strange scene:
Cathie Wood from ARK continues to buy ARKB and Coinbase today,
UBS quietly increased its stake in MicroStrategy to $800 million.
Retail investors are in a panic, while institutions are building positions against the trend?
A friend of mine who has been in the game for 5 years said: When the fear index is below 15, watching institutional movements is more important than watching the price.
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This morning in the group
"It's over, BTC has fallen below 70,000, this time it's really a bear market"