When the market is rising, optimism is dispersed and divided. Those trapped are eager to buy the dip and exit, while profit-takers take profits at the first sign of good news. Each time the market breaks through a key level, selling pressure emerges. It's like rowing against the current, requiring continuous inflows of real money to push higher.

But once the decline begins, panic turns into an infectious monster. Stampede-like sell-offs, leveraged liquidations, and stop-loss orders erupt in fury. Everyone sells regardless of cost until liquidity is completely exhausted, and the downward momentum is so fast that there's little time to react.

Mathematics is this brutal. If a coin drops from 10 yuan to 5 yuan, that's a 50% decline. Sounds not too bad, right? But to recover from 5 yuan back to 10 yuan, it needs to rise 100%.

The same 100 yuan: losing 50% leaves only 50 yuan. But to make that 50 yuan back to 100 yuan, it needs a 50% gain, which only brings it to 75 yuan — still far from breaking even.

This is the mathematical truth of price asymmetry. When falling, prices plummet rapidly; when rising, they have to move step by step. Psychologically, market selling is far more consistent than buying conviction. That's why, in volatile markets, declines tend to be faster and more violent than gains.