$ACT Crash Timeline：

1️⃣ Binance's Three Consecutive Cuts

On March 31, the single account position limit was cut from 9 million to 4.5 million, and on April 1 at dawn, it was unexpectedly reduced to 3.5 million, implemented just 3 hours later, forcing large holders to urgently liquidate positions.

2️⃣ Robot Stampede

Hedge robots sell spot → perpetual long position liquidated → triggers more robots to follow sell, forming a death spiral. Market makers directly hit the nuclear button to unload to maintain efficiency, refusing to sell slowly.

3️⃣ Contract Leverage Trap

Common tactics used by big players: pull perpetual contracts to eat short positions → force robots to buy spot to hedge → price cycles up. But this time, when they reversed to sell, the hedging mechanism accelerated the collapse.

(Note: The market has risks, this article is for event analysis only)#ACT