Last night's market once again played out a familiar scene. $1.7 billion was dumped within 3 hours, causing BTC to spike straight to 90,000, followed by a textbook-level slaughter.

Honestly, this is not the start of a bull market—it's giant whales using retail stop-loss orders to sip tea. The logic of the market is simple: during periods of low liquidity, a sudden large buy order causes prices to rocket upward, wiping out shorts, and then a crazy FOMO sentiment spreads through the market. Everyone starts chasing the trend and increasing their positions, long positions pile up to the top, and the whales turn around and dump—scythe falls, game over.

This is not a technical issue, nor is it much related to macro narratives. Ultimately, it’s a game of capital power. In markets without effective regulation, big players have the power to set the rules—they can create prices and liquidate you.

So the real question is: why are you still playing the game of chasing rises and selling dips?

Smart capital has long seen through this. After every sharp rise and fall, the scale of stablecoins locked in DeFi and yield protocols actually increases. What does this indicate? It shows that a group of investors has given up on predicting when the next wave of market movement will come, and instead chooses to build stable cash flow assets within relatively safe DeFi protocols.

Their logic is clear: rather than betting on manipulated prices in the volatile spot market, it’s better to earn steadily in protocols with transparent rules. Price fluctuations can be profitable, and there’s no need to worry about being suddenly liquidated by whales. This is the way to survive long-term.