October 11th is one of the main reasons for the liquidity crisis today, and it can be said that the damage it caused to the crypto world is extremely severe in history. This is not only a financial liquidation but also caused many retail investors to lose trust and become skeptical of the crypto space. Many large traders and market makers experienced liquidations on that day, and some people were deeply trapped, with only retail investors choosing to withdraw and observe. Even if new retail investors enter later, they are only willing to invest in Bitcoin and Ethereum. It is no exaggeration to
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