#以太坊行情解读 The crypto world has been honed for nine years, and the market maker's Whipsaw tactics have been seen through. Can retail investors win just by holding on? To be honest, this question is reversed – the ones who truly make money are not the ones who hold on, but those who understand.

The market makers chase the chips, while all you can hold onto are just the supporting roles. These four truths about Whipsaw have been validated through painful lessons.

**The First Truth: Market Sell-off Destroys Confidence**

It's not just about letting the price fall, but about breaking your will. ETH once dropped more than 50% in a cycle, and RAY plummeted from 5 to 0.1, looking like the end of the world. But this is the market maker's script – first making you despair, then giving a glimmer of hope, and finally forcing you to give up. Smart money bought the dip when ETH was significantly corrected and ended up making 3 times the profit. Trash coins really disappear when they drop, but for valuable projects, a drop is an opportunity.

**Second truth: the slow decline and sideways movement waste patience**

The sharp decline is painful, and the slow drop is annoying. The market makers use this trick to wear down retail investors. Using leverage leads to being drained by interest, while not using it results in losing confidence over time. You go from "just wait a bit longer" to "forget it," and what you cut off is actually your will, not your assets. Some people abandoned certain projects early in this round and managed to avoid going to zero, preserving their principal. This is the difference in perception.

**The Third Truth: Wide Fluctuation Treats Iron Hands**

Up 5% down 8%, up 10% crash back to the starting point. If you don't sell, you become numb; if you want to average down, it only becomes negative news. The market is challenging the limits of human nature. Some people use small stop losses for T-shaped trading and made 15% on SOL, a coin with frequent fluctuations. The key is—if you don't hold positions, you'll survive longer.

**The Fourth Truth: Public Opinion Guides Emotions**

With signal groups, KOLs, and rumors all coming together, a collective sell-off is created. You might think that's rational loss-cutting, but in reality, it's the market makers taking over. The way to distinguish between true and false is actually simple - observe the flow of chips, not the voices in the group. Last year, some avoided the three traps of signals and preserved their accounts.

**Core Logic**

The truth of the crypto world can be summed up in one sentence: those who can endure the Whipsaw are not just holding on, but understand the rules. Market makers make money through indices, while retail investors save themselves through knowledge. Don't stare at the candlestick charts to guess the bottom; focus on chips and emotional cycles. Transform from a passive victim into an informed player.

Remember, the crypto world is not short of opportunities. What is lacking is the ability to see through the Whipsaw. Let's go from being hunted to actively hunting.