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I have seen many projects recently using this method to cut leeks, and the process is simply industrialized.
After a 200% rise from the bottom, they no longer push higher but instead consolidate repeatedly at high levels. Then they create fake breakouts with upward and downward hits, creating an illusion of sufficient liquidity. Once this illusion attracts swing traders and high-leverage gamblers, they start to layout—everyone is betting on it breaking the previous high.
Once the long positions are stacked up, it's showtime: a false breakout, combined with 1.5x funding costs to intensify the damage, followed by two 15-minute K-lines that directly wipe out 100%.
Ironically, these projects tout "long-termism" and "cracking down on wash trading" every day, but their operational logic is to use a sickle for precise destruction. Those high-amplitude fluctuations look like natural market movements, but in reality, they are cover for dumping. This kind of play is a naked exploitation of human greed—those who chase the high with the trend ultimately become the bagholders.
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When the funding rate spikes, it's time to run, don't be greedy
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100% drop? My friend got liquidated but still talks about long-term
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The skin of long-termism, but the bones of a scythe haha
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When it consolidates at high levels, you should be alert, how can some still believe
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Those people talk about cracking down on wash trading every day, but they’re actually killing with precision
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All the swing traders have died here, still trying to make quick money
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Liquidity enough? What's enough is the institutions' bullets
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The greedy's end is to be the sucker, an age-old story
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Fake breakouts combined with high leverage, this is the perfect harvest package
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Can you tell this is institutions offloading and still playing?
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The cover-up for the dump was written perfectly, so blatant
When it's sideways at a high level, you should run. It's not a breakthrough signal; it's just waiting for the bagholders to take the bait.
1.5x fees plus a blow-up, pure precision hunting. These project teams are eating very well.
"Long-termism" haha, sounds nice, but in reality, it's just long-term cutting.
It's always like this. People chasing highs really need to learn something, or they'll always be destined to be the chives.