This wave of three consecutive declines is entirely self-inflicted by people in the crypto circle.

Although this drop in BTC was anticipated, and it completely aligns with conventional trading methodologies, the execution should not have overlooked the majority of first-level trading indicators within a span of three days.

After the A-shares surged, a bunch of people started to showcase their intelligence, claiming "A-shares will suck the blood from the crypto circle," which was obviously a joke.

Unexpectedly, as the rumor spread, many retail investors actually believed this logic and began to actively propagate it.

The BTC whale group saw this drop logic as a good opportunity, perfectly aligning with the market trend, and decided to ride the wave down more violently to execute their trading strategy.

There have been many absurd events in financial history: some rumors or misinformation, which were initially clearly nonsense, ended up affecting the market due to widespread dissemination, even to the extent of becoming "self-fulfilling."

In 2008, during the global financial crisis and the European debt crisis, several cash-flow-positive large European banks were caught up in various rumors, with retail investors claiming they were about to go bankrupt or facing significant financial difficulties.

Although many of these rumors had no factual basis, the market sentiment was extremely fragile, and investors' confidence in the banks wavered, leading to a sharp decline in bank stock prices, with some banks even having to rely on government support for internal adjustments.

Despite the rumors being untrue, their widespread dissemination led to the bankruptcy of several banks.

In 2010, a rumor about fake gold bars spread in the financial market, claiming that some gold bars circulating in the London market were actually hollow and mixed with counterfeit metals.

This rumor was initially baseless, but it spread widely on the internet and media, even beginning to affect confidence in the gold market, leading to significant fluctuations in gold prices in a short period, causing many institutions to incur heavy losses.

In hindsight, there was no substantial evidence proving the existence of large-scale fake gold bars, but the rumor led to a market that was swayed by sentiment, genuinely raising concerns about the authenticity of gold.

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