#美国证券交易委员会推进数字资产监管框架创新 Recently, I've been talking to some retail investors who got caught in a position, discussing the experience with a low-liquidity coin. To be honest, these small coins are basically gambling—completely dominated by market makers, and retail investors have no say whatsoever. For example, someone entered at 0.18, and now it's dropped to 0.43, still holding the position with unrealized losses exceeding tens of thousands of USDT. Looking at this wave of movement, there are no signs of a correction; it’s just a strong upward trend all the way.

From a technical analysis perspective, short positions have definitely accumulated quite a bit, and the game rules for market makers are very clear—push the price up to trigger a short squeeze, then dump to harvest the gains. The ceiling of this rally is entirely dependent on where the back-end wants to trigger the short squeeze. This is the reality of the crypto market: retail investors, even if they see the direction correctly, cannot hold onto it because they have no idea when the market maker will turn hostile.

$BTC @ETH and other leading coins still have fundamentals to support them, but projects with lacking liquidity pose risks that are on a completely different level. For retail investors, understanding these game strategies is more important than just participating.