On December 1st at 8 AM, Bitcoin suddenly plummeted.

Many people are looking for a single culprit, but the truth is more complex – it is the result of five forces erupting simultaneously. On a macro level, policies are tightening. On the institutional side, funds are withdrawing decisively. Within the market, high-leverage positions are stepping on each other. The regulatory environment? Still unclear. The technical charts were already unstable. Five heavy blows come crashing down together.

This round of plummet is actually reminding us of one thing: in the game of liquidity controlled by the Federal Reserve, Bitcoin is no longer a safe haven. It is now a risk asset, closely linked to the pulse of traditional financial markets. Leverage can amplify profits, but it can also instantly wipe out accounts. A slight change in policy could lead to a complete reshuffle of the entire crypto market.

The price of #数字货币市场回调 is never just as simple as the K-line.