Orange Evening Interpretation 9.23 Today, Bitcoin has once again followed a V-shaped trend, dropping from 113k in the morning to 111k, and then rebounding in the afternoon, currently back around 113k. The price movements of Bitcoin in the past two days have been characterized by sharp rises and falls. With no macro risks currently in sight, the U.S. stock market has even reached all-time highs for three consecutive days, indicating a favorable macro environment. Therefore, this trend seems to be a deliberate effort by the whales to clear leverage. This can be seen from the liquidation amounts; over the past 24 hours, the total liquidation across the network exceeded $1.7 billion, the highest single-day figure since the 519 incident in 2021. This reflects the level of market leverage. Of course, this is also related to the trading frenzy led by $aster in the perp DEX, where many retail investors may have gotten caught up in the excitement and ended up holding onto their positions...
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