2025-12-24 07:27:02

Recently, I looked at the data, and the total contract holdings across the entire network have fallen below 130 billion, directly halving from the peak in October. Even more heartbreaking, the liquidity on the spot side has evaporated by 70%, and the contracts have also shrunk by 50%. The logic behind this wave of adjustment is quite worth pondering—are market participants withdrawing their funds, or are they becoming more cautious? From the perspective of trading depth, the market is indeed experiencing a significant contraction period.

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SilentAlpha

· 11h ago

Cut in half? Damn, that move was too fierce, liquidity evaporated by 70%. How many people must have been liquidated for that to happen?

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IronHeadMiner

· 20h ago

Cut in half, right? I don't see this as caution, it's really cowardice. --- Liquidity evaporating by 70%? I just want to know where the money has gone. --- The October peak now looks like a joke; the hype back then was intense, and the drop now is even harsher. --- Don't talk about "contraction period," honestly, it just means no one is playing anymore. --- Spot and futures shrinking together? This time it's really intense, need to reflect on my positions. --- Feels like everyone is waiting, waiting for what? A rebound or the bottom? --- Fifty percent, seventy percent... these numbers sound heartbreaking. Who the hell still dares to leverage at this point? --- Do we even need to think about this logic? It's just typical bear market traits, nothing new. --- No liquidity means shallow trading depth, isn't that obvious? --- Cut in half every half year, if it continues like this, when will it end?

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HodlVeteran

· 20h ago

Oh no, isn't this a déjà vu from 2018? Back then, I also got cut in half like this [dog head]. Shouha brothers, now it's time to calm down. Deeply shrinking is the most heartbreaking. Withdraw funds? No, that's smart people reallocating positions. The rookies are still taking the bait. Liquidity evaporated by 70%. How much must one cut to achieve that? Respect, respect. Falling below 130 billion. I thought the bottom hadn't arrived yet. Getting old, getting old. Now I only treat sleepwalking. With this rhythm, those who want to get off, get off. The rest are waiting for a rebound, but the rebound just cuts you. Thinking back to this time last year, I was still bragging. Now I'm just sitting in the group drinking soup. The truly cautious have already withdrawn. Now "caution" just means reluctant to cut losses. Spot market shrank by 70%? Those brave enough to still leverage now, I respect you as real men.

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AirdropHarvester

· 20h ago

Cut in half? That's just the beginning, it still needs to keep falling.

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DeFiGrayling

· 20h ago

Cut in half? Damn, this drop is insane, no wonder everyone in the group has been cursing lately.

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metaverse_hermit

· 21h ago

Wow, halving? That must scare a lot of people. --- Liquidity evaporated by 70%... contracts also shrank by 50%... is everyone fleeing? --- Instead of asking whether to withdraw or be cautious, better to ask who hasn't cut their losses yet. --- Those still willing to leverage now are true warriors. --- Trading depth is plummeting—doesn't that mean no one is trading anymore? --- The October peak now looks like a joke. --- Breaking through the 130 billion mark—are there any supports left? --- Claiming funds are leaving? More like they're trapped. --- Is this called a contraction phase? I think it's the start of a shakeout. --- Good question, but I want to know who is benefiting from this drop.

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