Market Analysis: Bitcoin dropped below $9,000 this time, with a decline of nearly 10%; this is actually a carefully orchestrated slaughter by exchanges targeting retail investors.

Two charts: one shows that in the past 24 hours, the entire network experienced liquidations of $2.544 billion. The other shows that on a Saturday with low trading volume, someone sold $1 billion worth of Bitcoin on a certain exchange with almost no buyers. Does this make sense?

Normal whales usually choose ETFs or OTC trading to get the best prices; this behavior of selling $1 billion worth of Bitcoin at a lower price is clearly irrational. Therefore, the definite answer is that this is a deliberate market manipulation and retail investor slaughter.

Why choose Saturday? Because weekend market liquidity is the lowest. On weekends, many professional market makers reduce trading activity, banks are closed, making it harder for fiat to flow into exchanges. Meanwhile, Bitcoin's large purchasing power is held by ETFs (such as BlackRock's IBIT), but these mainly operate during traditional stock market hours (Monday to Friday).

The logic behind this operation is very clear: during the liquidity-scarce Saturday, a $1 billion spot sell-off can trigger liquidations three to five times that amount.

Profit methods:
Short arbitrage: Whales may hold a large short position in derivatives markets. They suffer a slippage of $50 million in the spot market but earn $500 million in the futures market due to a 10% price plunge. This "spot dumping, futures harvesting" is a typical tactic to wipe out retail investors.

Only by dumping on a public order book like on a certain exchange can they push down the entire market price. Hopefully, some major exchanges will stop engaging in such market manipulation, or they will eventually lose public trust.