#Gate广场新手村第四期 On October 11th, early morning, the crypto assets market experienced a historic flash crash. Bitcoin fell approximately 13% within 24 hours, hitting a low of $105,900, a 20% retracement from its all-time high, with over 1.6 million investors getting liquidated.

In the crypto market, each crash is like a sudden storm, sweeping away greed and fear, while also testing confidence. Over the past five years, ten typical big dumps have shown a consistent logic: liquidity is drained, and the leverage chain collapses. External panic is the spark, but what truly drives the big dump is human nature.
Respect the market and understand the risks.
The multiple flash crashes in the crypto market clearly remind all market participants: Bitcoin is more like a high-risk speculative asset rather than "digital gold." From 2020 to 2025, every macro shock, overheated leverage, or sentiment reversal will cause prices to plummet suddenly—macro liquidation amounts will soar from 500 million USD to 19 billion USD by 2025.
History teaches us that high leverage amplifies risks to an exponential level when facing global political and economic shocks; opportunities and dangers coexist, but the margin for error is very low. Respect the market, control leverage, diversify custody, and closely monitor macro signals, otherwise, the next flash crash could very well be you.

The memory of the retail investor is always shorter than the block height. Every crash is a moment when human nature is magnified. Greed, fear, and numbness cycle repeatedly on the charts—some get liquidated to zero, while others hold on until the end. The crypto market repeatedly verifies two old sayings: Investment is long-term management of risk; as long as you don’t leave the table, opportunities always exist.

When leverage is continuously called back and liquidity is drained, the big dump sweeps through the market like a domino effect. This scene is no different from the Tulip Bubble, the 1929 stock market crash, and the subprime mortgage crisis. The difference this time is that price fluctuations are written into the code and greed is packaged. The market will not remember who warned about the risks; it only rewards the survivors. True victory has never been about hitting the bottom, but rather about still having chips in hand after the cycle.