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Mulight

推特:0xMulight 丨空投交互丨分享币圈热点、干货 丨 BTC早期布局者 丨NFT慈善家丨ETH 忠实玩家 丨动态视觉设计师
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When AI possesses directorial thinking, it is not only the 'twilight of the gods' in the film industry but also a new explosion point for Crypto narratives. "The film industry's 130-year process has been concluded by AI in one sentence" — Zhou Hongyi Recently, my social media feed has been flooded! The latest model, Seedance2, is truly amazing; not only does its quality rival that of film shots, but it also exhibits directorial thinking, with very smooth shots. Those who know me are aware that I work in the film and television industry, specifically in visual effects and 3D animation. This wave has really been a significant blow to the film industry, and I am genuinely shocked, feeling that my decade-plus of skills might as well be wasted. In short, this wave marks the end of the game. Therefore, every industry must combine with AI and adopt AI thinking. The integration of artificial intelligence and cryptocurrency is undoubtedly one of the grandest narratives in the Web3 field. This impact is comprehensive; it not only reshapes the infrastructure but also changes transaction models, while also bringing new security challenges. We just need to embrace AI; we must be brave in trying and exploring new things, without any hostility or confrontation, as it is utterly meaningless. Coincidentally, Binance recently held an AI creation event, utilizing artificial intelligence to create videos, comics, and scripts themed around combat and siege, in order to combat fear, uncertainty, and market sluggishness. I took this opportunity to learn AI and created a short film for this purpose, hoping everyone enjoys it. @BinanceSquareCN @binancezh $BNB #BinanceAIShortDramaContest
When AI possesses directorial thinking, it is not only the 'twilight of the gods' in the film industry but also a new explosion point for Crypto narratives.

"The film industry's 130-year process has been concluded by AI in one sentence" — Zhou Hongyi

Recently, my social media feed has been flooded! The latest model, Seedance2, is truly amazing; not only does its quality rival that of film shots, but it also exhibits directorial thinking, with very smooth shots.

Those who know me are aware that I work in the film and television industry, specifically in visual effects and 3D animation. This wave has really been a significant blow to the film industry, and I am genuinely shocked, feeling that my decade-plus of skills might as well be wasted. In short, this wave marks the end of the game.

Therefore, every industry must combine with AI and adopt AI thinking. The integration of artificial intelligence and cryptocurrency is undoubtedly one of the grandest narratives in the Web3 field. This impact is comprehensive; it not only reshapes the infrastructure but also changes transaction models, while also bringing new security challenges.

We just need to embrace AI; we must be brave in trying and exploring new things, without any hostility or confrontation, as it is utterly meaningless.

Coincidentally, Binance recently held an AI creation event, utilizing artificial intelligence to create videos, comics, and scripts themed around combat and siege, in order to combat fear, uncertainty, and market sluggishness.

I took this opportunity to learn AI and created a short film for this purpose, hoping everyone enjoys it.

@币安广场 @币安Binance华语 $BNB

#BinanceAIShortDramaContest

CZ Big Brother will donate all the live broadcast rewards today to GiggleAcademy. Big Brother has always been dedicated to charity work, which is admirable and worth learning from. Perhaps this is the meaning of greater power bringing greater responsibility. CZ also said that Binance will always focus on doing its own products and will not pay attention to external noise. We can always believe in Binance and believe in CZ. Some teachers also mentioned that the key point predicted by Big Brother for 2026 may be a breaking point in the four-year cycle. CZ stated that in the future, no one knows what will happen, but we can do our best. Unfortunately, although I raised my hand during today's live broadcast, I did not get the chance to ask Big Brother a question and can only wait for the next opportunity. @CZ @BinanceSquareCN @binancezh $BNB #四年周期 #CZ币安广场AMA
CZ Big Brother will donate all the live broadcast rewards today to GiggleAcademy. Big Brother has always been dedicated to charity work, which is admirable and worth learning from. Perhaps this is the meaning of greater power bringing greater responsibility.

CZ also said that Binance will always focus on doing its own products and will not pay attention to external noise. We can always believe in Binance and believe in CZ.

Some teachers also mentioned that the key point predicted by Big Brother for 2026 may be a breaking point in the four-year cycle. CZ stated that in the future, no one knows what will happen, but we can do our best.

Unfortunately, although I raised my hand during today's live broadcast, I did not get the chance to ask Big Brother a question and can only wait for the next opportunity.

@CZ @币安广场 @币安Binance华语 $BNB #四年周期 #CZ币安广场AMA
The Linea team may be planning a large-scale cash-out, so be aware of the risk of token price decline. Just now, Linea tokens worth 5.3 million dollars were transferred to a new address. Friends familiar with on-chain fund flows understand that this behavior is very likely a precursor to selling on exchanges. Those holding tokens are advised to lay low for a while or set stop-loss limits; don’t gamble on the integrity of the project team. $LINEA {future}(LINEAUSDT)
The Linea team may be planning a large-scale cash-out, so be aware of the risk of token price decline.

Just now, Linea tokens worth 5.3 million dollars were transferred to a new address. Friends familiar with on-chain fund flows understand that this behavior is very likely a precursor to selling on exchanges.

Those holding tokens are advised to lay low for a while or set stop-loss limits; don’t gamble on the integrity of the project team.

$LINEA
CZ
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[Replay] 🎙️ AMA. English and Chinese (only 2 I speak)
01 h 06 m 12 s · 100.6k listens
Binance is giving away tens of millions of dollars, everyone has a share! I really got it, it's genuine. Here to grab red envelopes #币安春节大作战
Binance is giving away tens of millions of dollars, everyone has a share!

I really got it, it's genuine.

Here to grab red envelopes

#币安春节大作战
The panic index has directly dropped to 5. This is not just panic; it is despair. The last time I saw such a single-digit extreme value was during the previous black swan events. Yesterday it was still 11, and today it has been halved; market confidence is not just fading, but collapsing. TD Securities has pushed back the Federal Reserve's interest rate cut expectation from March directly to June. This is the fundamental reason that has shattered everyone's mindset. The market was originally hanging on the expectation of liquidity in March, but now the oxygen tube has suddenly been pulled out, and we have to endure for another three months. The sudden collapse of expectations is more painful than a direct interest rate hike. The fear of liquidity exhaustion overshadows everything; even the stubborn bulls will choose to cut their positions regardless of the cost because they can't hold on any longer. History is always remarkably similar; bear markets suddenly arrive when no one is prepared. A single-digit panic value also means that the market is full of bloodied chips, and irrational selling is occurring. In this suffocating market, should one choose to cut losses and exit for a sense of relief, or dare to close their eyes and catch this falling knife? #恐慌指数 #何时抄底 $BTC {future}(BTCUSDT) $ETH {future}(ETHUSDT) $BNB {future}(BNBUSDT)
The panic index has directly dropped to 5.

This is not just panic; it is despair. The last time I saw such a single-digit extreme value was during the previous black swan events. Yesterday it was still 11, and today it has been halved; market confidence is not just fading, but collapsing.

TD Securities has pushed back the Federal Reserve's interest rate cut expectation from March directly to June.

This is the fundamental reason that has shattered everyone's mindset. The market was originally hanging on the expectation of liquidity in March, but now the oxygen tube has suddenly been pulled out, and we have to endure for another three months. The sudden collapse of expectations is more painful than a direct interest rate hike. The fear of liquidity exhaustion overshadows everything; even the stubborn bulls will choose to cut their positions regardless of the cost because they can't hold on any longer.

History is always remarkably similar; bear markets suddenly arrive when no one is prepared. A single-digit panic value also means that the market is full of bloodied chips, and irrational selling is occurring.

In this suffocating market, should one choose to cut losses and exit for a sense of relief, or dare to close their eyes and catch this falling knife?

#恐慌指数 #何时抄底 $BTC
$ETH
$BNB
Time really flies! It's been two years since the era of runes has passed! $ORDI {future}(ORDIUSDT)
Time really flies!

It's been two years since the era of runes has passed!

$ORDI
Is the market currently at the end of a bear market? Rather than the end of a bull market and the beginning of a bear market? So should everyone seize the opportunity to buy at the bottom? #何时抄底? $BTC {future}(BTCUSDT)
Is the market currently at the end of a bear market? Rather than the end of a bull market and the beginning of a bear market?

So should everyone seize the opportunity to buy at the bottom?

#何时抄底? $BTC
The price of ZAMA token has plummeted, everyone! As expected, the coin lives up to its name, ZAMA, smash it? Smash! The community has suffered from ZAMA for a long time, finally unable to endure ZAMA's manipulation, they have started a collective strike. In fact, I always wanted to wait for ZAMA to make a big surge before running away, but unfortunately, no opportunity was given. ZAMA went from launching at $0.11 to $0.022, a drop of 80%. Look at the adjacent project, ZAMA looks like the project team is running away, but in fact, it is the market killing the valuation. I thought there would be a large token unlock, but it just launched. A careful analysis of this drop shows that it is purely a structural collapse of high FDV and low circulation. The circulating supply is only 20%, with a fully diluted valuation propped up at tens of billions. As early holders slightly loosened their grip, the long positions in the contract became fuel. In 24 hours, around 440,000 long positions exploded, with the funding rate dropping to -1.89%, and the short army was truly crowded to the extreme, causing a stampede among the longs that triggered a chain liquidation. Moreover, the RSI is only 19 now, and the lower Bollinger Band has also been breached, a typical panic sell-off. With a trading volume of $430 million, all the chips are bloody in turnover. This is already extremely oversold. Do you think it hasn't dropped enough and continue to watch, or are you ready to enter the market to bet on a rebound? $ZAMA #ZAMA暴跌 {future}(ZAMAUSDT)
The price of ZAMA token has plummeted, everyone!

As expected, the coin lives up to its name, ZAMA, smash it? Smash!

The community has suffered from ZAMA for a long time, finally unable to endure ZAMA's manipulation, they have started a collective strike. In fact, I always wanted to wait for ZAMA to make a big surge before running away, but unfortunately, no opportunity was given.

ZAMA went from launching at $0.11 to $0.022, a drop of 80%. Look at the adjacent project, ZAMA looks like the project team is running away, but in fact, it is the market killing the valuation.

I thought there would be a large token unlock, but it just launched. A careful analysis of this drop shows that it is purely a structural collapse of high FDV and low circulation. The circulating supply is only 20%, with a fully diluted valuation propped up at tens of billions. As early holders slightly loosened their grip, the long positions in the contract became fuel.

In 24 hours, around 440,000 long positions exploded, with the funding rate dropping to -1.89%, and the short army was truly crowded to the extreme, causing a stampede among the longs that triggered a chain liquidation.

Moreover, the RSI is only 19 now, and the lower Bollinger Band has also been breached, a typical panic sell-off. With a trading volume of $430 million, all the chips are bloody in turnover.

This is already extremely oversold. Do you think it hasn't dropped enough and continue to watch, or are you ready to enter the market to bet on a rebound?

$ZAMA #ZAMA暴跌
"Having accurately identified the trend, yet losing all the money is a bitter lesson I'm truly fed up with. I used to think that a certain narrative would become popular, and I had to grit my teeth and jump into the fray, only to find that while the traffic did indeed come, the pool was withdrawn, or the speculator had already run away. Polymarket and Kaito are set to launch an attention market yesterday, which essentially separates the attention from the coin price and sells it independently. This means Polymarket provides the market, and Kaito's AI acts as the referee, quantifying all network discussion data. As long as you believe this matter can get hot and the topic can explode, just go long on its public opinion index. This might be the true literal meaning of traffic monetization. However, I'm also wondering, since AI has become the only settlement standard, is it time for the top offensive and defensive battle between traffic-boosting studios and anti-traffic manipulation algorithms? Do people feel this method is fairer, or does it leave scientists with a new backdoor? #Polymatket #KAITO $BTC {future}(BTCUSDT)
"Having accurately identified the trend, yet losing all the money is a bitter lesson I'm truly fed up with.

I used to think that a certain narrative would become popular, and I had to grit my teeth and jump into the fray, only to find that while the traffic did indeed come, the pool was withdrawn, or the speculator had already run away.

Polymarket and Kaito are set to launch an attention market yesterday, which essentially separates the attention from the coin price and sells it independently. This means Polymarket provides the market, and Kaito's AI acts as the referee, quantifying all network discussion data.

As long as you believe this matter can get hot and the topic can explode, just go long on its public opinion index. This might be the true literal meaning of traffic monetization.

However, I'm also wondering, since AI has become the only settlement standard, is it time for the top offensive and defensive battle between traffic-boosting studios and anti-traffic manipulation algorithms?

Do people feel this method is fairer, or does it leave scientists with a new backdoor?

#Polymatket #KAITO $BTC
The Fabric project team surprisingly provided a refund window, but this is actually something that big investors who are dealing with tens of thousands or even hundreds of thousands of US dollars need to consider. After all, the market has indeed been quite unstable recently, and we small investors who only put in a few thousand US dollars are just along for the ride; we really can't lose much. However, I think @FabricFND's project team has a great vision and is quite confident in themselves. There is an old saying in China: 'Sincerity brings results,' and it truly makes me feel their sincerity. I really hope they can lower the FDV a bit; perhaps that would yield better results. Moreover, there aren’t many angles from which to participate in the project, and I will not withdraw; let’s wait and see! $KAITO {future}(KAITOUSDT)
The Fabric project team surprisingly provided a refund window, but this is actually something that big investors who are dealing with tens of thousands or even hundreds of thousands of US dollars need to consider. After all, the market has indeed been quite unstable recently, and we small investors who only put in a few thousand US dollars are just along for the ride; we really can't lose much.

However, I think @FabricFND's project team has a great vision and is quite confident in themselves. There is an old saying in China: 'Sincerity brings results,' and it truly makes me feel their sincerity.

I really hope they can lower the FDV a bit; perhaps that would yield better results. Moreover, there aren’t many angles from which to participate in the project, and I will not withdraw; let’s wait and see!

$KAITO
Mulight
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. @FabricFNd New users can check their limits on kaito, and if all goes well, the first round should be at full limit. I only placed a small bet, hoping not to find excuses like zama after the break!

$KAITO
{future}(KAITOUSDT)
I just saw Bloomberg and Bianco Research disclose a set of data indicating that the average purchase cost for Bitcoin ETF holders has reached $90,000, while the average cost for Ethereum ETF holders is around $3,500. These institutions have already incurred massive losses of 20% to 40%. The market may inadvertently drop again, and seeking certainty in panic is often safer than looking for an exit in a frenzy. $BTC $ETH {future}(ETHUSDT)
I just saw Bloomberg and Bianco Research disclose a set of data indicating that the average purchase cost for Bitcoin ETF holders has reached $90,000, while the average cost for Ethereum ETF holders is around $3,500. These institutions have already incurred massive losses of 20% to 40%.

The market may inadvertently drop again, and seeking certainty in panic is often safer than looking for an exit in a frenzy.

$BTC
$ETH
The Alpha blind box released by Binance Wallet this time is somewhat similar to a 'Dutch auction' on the blockchain. The core rules test the mindset of competition very well. It starts on February 11, with the points threshold automatically reduced by 5 points every 5 minutes, first come, first served, and it ends when the supply runs out. This is quite interesting: are you willing to enter with a high score to ensure you get the goods, or are you willing to take a gamble and wait for the lower score range to snag a deal? Because the prize pool not only includes new projects but also mixes in previous airdrop projects, which clearly aims to maximize the value extracted from Alpha points. Under this mechanism, hesitating for a second could mean missing out; it’s all a psychological battle. Let’s see how it goes tomorrow. Generally, profits from newly launched activities are not too low!
The Alpha blind box released by Binance Wallet this time is somewhat similar to a 'Dutch auction' on the blockchain.

The core rules test the mindset of competition very well. It starts on February 11, with the points threshold automatically reduced by 5 points every 5 minutes, first come, first served, and it ends when the supply runs out.

This is quite interesting: are you willing to enter with a high score to ensure you get the goods, or are you willing to take a gamble and wait for the lower score range to snag a deal? Because the prize pool not only includes new projects but also mixes in previous airdrop projects, which clearly aims to maximize the value extracted from Alpha points. Under this mechanism, hesitating for a second could mean missing out; it’s all a psychological battle.

Let’s see how it goes tomorrow. Generally, profits from newly launched activities are not too low!
Binance Announcement
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Binance Wallet launches the Alpha blind box airdrop, enjoy multiple project airdrops in one box
This is a general announcement, and the products and services mentioned here may not be available in your region. Please refer to the terms and conditions for specifics.
Dear users:
Binance Wallet launches Alpha blind box airdrop — a new way to aggregate multiple projects together. Based on the popular Binance [Alpha空投](https://www.%suffixOrigin%/%locale%/support/faq/detail/21b5053085824c2a82473a86ea55e922), you have the chance to receive tokens from one of the collaborative projects through the Alpha blind box.
About the Alpha blind box:
The Alpha blind box is a brand new airdrop model pioneered by Binance, where multiple projects pool their tokens into a single event. When users redeem Alpha blind box airdrops with Binance Alpha points, they will randomly receive tokens equivalent to one of the selected projects in the blind box. Additionally, the Alpha blind box may also include projects that have previously launched airdrops on Binance Alpha, giving users another opportunity to participate in these early projects.
Abstract Super Rare New Badge is Coming!Do you have family members who enjoy playing games? The Abstract penguin chain has many fun games, and the game to play this time is onchain, which is a pixel turn-based dungeon game. The game is very interesting, and you can also share the bounty every week by making the leaderboard. Onchain has collaborated with Abs officially for weekly badges, so it's a great opportunity to play a few more games while obtaining the badge this time. ① The new badge needs to be found and picked up in the 5th level of the Onchain maze to obtain this badge. Exploring the dungeon requires purchasing a key first, and the price of a key is 0.001ETH. ② The game is turn-based, and each step will consume energy points, totaling 100. If you run out, you will die and need to repurchase to start over, so you must find the fastest path.

Abstract Super Rare New Badge is Coming!

Do you have family members who enjoy playing games? The Abstract penguin chain has many fun games, and the game to play this time is onchain, which is a pixel turn-based dungeon game. The game is very interesting, and you can also share the bounty every week by making the leaderboard.

Onchain has collaborated with Abs officially for weekly badges, so it's a great opportunity to play a few more games while obtaining the badge this time.

① The new badge needs to be found and picked up in the 5th level of the Onchain maze to obtain this badge. Exploring the dungeon requires purchasing a key first, and the price of a key is 0.001ETH.

② The game is turn-based, and each step will consume energy points, totaling 100. If you run out, you will die and need to repurchase to start over, so you must find the fastest path.
Top whales are liquidating, precious metals are violently rebounding: this is the market's most cruel bottom signal, bar none.This is an extremely bloody weekend. On one hand, Yi Lihua's institution Trend Research had a $700 million ETH position on Aave that was forcibly liquidated; on the other hand, gold has reached $5000, and silver has recovered to $80. This is probably the market's most cruel 'bottom signal'. The elderly Yi Lihua, who has gone through several rounds of bull and bear markets, ultimately perished due to overly confident cyclical borrowing. His liquidation does not signify the end of the market, but rather the extreme release of panic emotions. Although the most stubborn bulls ultimately couldn't hold out and were forced to cut their losses, this does not mean that the short-selling momentum has completely exhausted. The cryptocurrency market has entered a bear phase, and price fluctuations will be very intense. During this phase, it's essential to minimize observation and increase activity to protect the principal.

Top whales are liquidating, precious metals are violently rebounding: this is the market's most cruel bottom signal, bar none.

This is an extremely bloody weekend.
On one hand, Yi Lihua's institution Trend Research had a $700 million ETH position on Aave that was forcibly liquidated; on the other hand, gold has reached $5000, and silver has recovered to $80.
This is probably the market's most cruel 'bottom signal'.
The elderly Yi Lihua, who has gone through several rounds of bull and bear markets, ultimately perished due to overly confident cyclical borrowing. His liquidation does not signify the end of the market, but rather the extreme release of panic emotions.
Although the most stubborn bulls ultimately couldn't hold out and were forced to cut their losses, this does not mean that the short-selling momentum has completely exhausted. The cryptocurrency market has entered a bear phase, and price fluctuations will be very intense. During this phase, it's essential to minimize observation and increase activity to protect the principal.
In a bear market, you must persist in earning rewards. I wonder how many people followed the interactive tutorial I wrote about o1exchange a while ago. What is earning rewards? The recent USD1 activity from the exchange is also a form of earning rewards. Below is the third week's review of o1exchange 📝 I just took a look at the latest data, and the trading volume has fallen back to 14M. Compared to the first week's 25.2M and the second week's 20.7M, this continuous decline is actually the rhythm I want to see the most. Everyone knows that projects that are too competitive usually have low returns. My plan is very simple: as long as the market maintains this lukewarm state, I will continue to wait. When there are fewer people, that is the best time to hold chips. $BTC {future}(BTCUSDT) $ETH {future}(ETHUSDT) $BNB {future}(BNBUSDT) Friends who haven't participated yet can enter from this link: o1.exchange/@mulight
In a bear market, you must persist in earning rewards. I wonder how many people followed the interactive tutorial I wrote about o1exchange a while ago.

What is earning rewards?
The recent USD1 activity from the exchange is also a form of earning rewards.

Below is the third week's review of o1exchange 📝

I just took a look at the latest data, and the trading volume has fallen back to 14M.

Compared to the first week's 25.2M and the second week's 20.7M, this continuous decline is actually the rhythm I want to see the most. Everyone knows that projects that are too competitive usually have low returns.

My plan is very simple: as long as the market maintains this lukewarm state, I will continue to wait. When there are fewer people, that is the best time to hold chips.

$BTC
$ETH
$BNB

Friends who haven't participated yet can enter from this link:
o1.exchange/@mulight
Mulight
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Partners in the crypto world should not miss this project

Last week was really intense on o1exchange; I will continue to follow up.
I suggest everyone definitely invite in a tiered manner, with 5 accounts per group.
They are a big account, 1, 2, 4, and 5. The big account invites 2, 3 invites 3, 3 invites 4, and 4 invites 5. The focus is on the big account and 5, while the smaller accounts can still earn commission points.

And there's no need to worry about witches.

This week has just started, so it's not too intense yet; many are probably still waiting for last week's points to come out and are observing. I casually brushed a few hundred U, and I've already got a few thousand points.
Don't run Clawdbot naked on your computer unless you want to give hackers your private key.Lately, everyone's been talking about Clawdbot deployment tutorials, and it seems like you'll be left behind if you don't participate. So, I'll jump on the bandwagon! Since deploying Clawbot requires a platform API key, some of you might not know how to obtain it. I'll give you a guide to calling the Gemini API and its specific costs. Furthermore, using a server is highly recommended, as these devices have very poor security; if your wallet's private key is stolen, it could be disastrous. Alternatively, prepare a device without any important files. Fortunately, Tencent Cloud is currently running a promotion: new users can get their first annual lightweight server subscription for just a few tens of yuan.

Don't run Clawdbot naked on your computer unless you want to give hackers your private key.

Lately, everyone's been talking about Clawdbot deployment tutorials, and it seems like you'll be left behind if you don't participate. So, I'll jump on the bandwagon! Since deploying Clawbot requires a platform API key, some of you might not know how to obtain it. I'll give you a guide to calling the Gemini API and its specific costs.
Furthermore, using a server is highly recommended, as these devices have very poor security; if your wallet's private key is stolen, it could be disastrous. Alternatively, prepare a device without any important files. Fortunately, Tencent Cloud is currently running a promotion: new users can get their first annual lightweight server subscription for just a few tens of yuan.
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Bullish
This week BTC plummeted by $15,000, yet on-chain data shows complete silence, making it impossible to find the source of large-scale selling? After looking at yesterday's news, this week's Bitcoin crash may be related to Hong Kong hedge funds? Traditional finance took advantage of the yen carry trade, establishing massive BlackRock IBIT option positions off-exchange, betting on a price rebound. However, the rebound did not come, and the yen financing cost instead soared, combined with the chain reaction of silver market volatility, leading to a broken funding chain and forced large-scale liquidations. The most ironic thing is that because these people are dealing with ETFs and over-the-counter options, they are completely detached from the traditional crypto ecosystem. Therefore, on-chain, there are no records of large whale sell-offs; the real selling pressure actually comes from the settlement slips of the traditional financial market. Does this mean that in the era of ETFs, the pricing power of Bitcoin has shifted? In the past, when the market was volatile, everyone was accustomed to checking on-chain data to see which whale transferred coins to exchanges, with a clear and visible logic. But now, the most deadly selling pressure may come from places we cannot see. Hong Kong funds are using yen arbitrage to gamble on ETF options, and this way of playing is completely detached from the transparent mechanism of blockchain. After Bitcoin was securitized, it naturally inherited all the drawbacks of traditional finance. This cross-market dimensional harvesting may only increase in the future. Does this logic explain this week's extreme market conditions? Feel free to discuss in the comments. $BTC {future}(BTCUSDT)
This week BTC plummeted by $15,000, yet on-chain data shows complete silence, making it impossible to find the source of large-scale selling?

After looking at yesterday's news, this week's Bitcoin crash may be related to Hong Kong hedge funds?
Traditional finance took advantage of the yen carry trade, establishing massive BlackRock IBIT option positions off-exchange, betting on a price rebound.

However, the rebound did not come, and the yen financing cost instead soared, combined with the chain reaction of silver market volatility, leading to a broken funding chain and forced large-scale liquidations.

The most ironic thing is that because these people are dealing with ETFs and over-the-counter options, they are completely detached from the traditional crypto ecosystem. Therefore, on-chain, there are no records of large whale sell-offs; the real selling pressure actually comes from the settlement slips of the traditional financial market.

Does this mean that in the era of ETFs, the pricing power of Bitcoin has shifted?

In the past, when the market was volatile, everyone was accustomed to checking on-chain data to see which whale transferred coins to exchanges, with a clear and visible logic. But now, the most deadly selling pressure may come from places we cannot see.

Hong Kong funds are using yen arbitrage to gamble on ETF options, and this way of playing is completely detached from the transparent mechanism of blockchain. After Bitcoin was securitized, it naturally inherited all the drawbacks of traditional finance.

This cross-market dimensional harvesting may only increase in the future.

Does this logic explain this week's extreme market conditions? Feel free to discuss in the comments.

$BTC
Serious creators should not be let down by traffic, and should not lack money for the New Year.I didn't expect it, really didn't expect it, I actually received a tip of 1BNB from Binance Square. Last year, quite early, I posted a few pieces of content on Binance Square. At that time, I was feeling anxious; after posting, I felt there was no traffic and no feedback, and after sticking to it for a few days, I stopped updating. Until last month, watching the market fluctuate, the urge to express myself came back, forcing myself to sit back in front of the computer and start restoring stable updates. Many people may not know about Binance's incentive event this time, because the last round of 100 BNB was not enough to distribute, so this time it was directly increased to 200 BNB. This is the current attitude of Binance Square, directly using real money to pay tribute to quality content. However, there are only 6 days left until it ends, so family members who want to participate should hurry up.

Serious creators should not be let down by traffic, and should not lack money for the New Year.

I didn't expect it, really didn't expect it, I actually received a tip of 1BNB from Binance Square.
Last year, quite early, I posted a few pieces of content on Binance Square. At that time, I was feeling anxious; after posting, I felt there was no traffic and no feedback, and after sticking to it for a few days, I stopped updating. Until last month, watching the market fluctuate, the urge to express myself came back, forcing myself to sit back in front of the computer and start restoring stable updates.
Many people may not know about Binance's incentive event this time, because the last round of 100 BNB was not enough to distribute, so this time it was directly increased to 200 BNB. This is the current attitude of Binance Square, directly using real money to pay tribute to quality content. However, there are only 6 days left until it ends, so family members who want to participate should hurry up.
Abstract Year-End Summary is HereWe all know that new public chains and L2 solutions are indeed too rampant. After issuing tokens, the actual users on the chain are few and far between. Initially, this kind of monotonous infrastructure narrative has become difficult to evoke interest, but I want to say that Abstract is truly different. The core difference of Abstract lies in the fact that its operator is Igloo Inc., which is the team behind the Fat Penguin Pudgy Penguins. These people really understand how to sell Web3 products to ordinary people in Web2. They have exploded toy sales at Walmart, right? This means that as soon as Abstract goes live, it can immediately import a vast number of real users through existing consumer channels. It uses ZK Stack to ensure the technical lower limit, but the upper limit completely depends on the landing ability of consumer-level applications. In this industry, the ability to package complex technology into fun products is more scarce than pure technology.

Abstract Year-End Summary is Here

We all know that new public chains and L2 solutions are indeed too rampant. After issuing tokens, the actual users on the chain are few and far between. Initially, this kind of monotonous infrastructure narrative has become difficult to evoke interest, but I want to say that Abstract is truly different.
The core difference of Abstract lies in the fact that its operator is Igloo Inc., which is the team behind the Fat Penguin Pudgy Penguins. These people really understand how to sell Web3 products to ordinary people in Web2. They have exploded toy sales at Walmart, right?
This means that as soon as Abstract goes live, it can immediately import a vast number of real users through existing consumer channels. It uses ZK Stack to ensure the technical lower limit, but the upper limit completely depends on the landing ability of consumer-level applications. In this industry, the ability to package complex technology into fun products is more scarce than pure technology.
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