第一性原理炒币

Veteran traders who have been in the crypto circle for many years understand a truth: the true wealth code is often hidden in the cracks of the market. Today, let's talk about something hardcore—how to play the "money-picking game" between DEX and CEX and achieve profit leaps with a 0.1-second time difference.
I. Survival Rules of a Dual-Track World.
If we compare a CEX to a luxurious star-rated hotel, then a DEX is like a 24-hour convenience store that never closes. The former emphasizes service efficiency with crowds, while the latter plays on the absolute control of "my wallet, my rules." In 2025, these two systems are like parallel universes that never intersect, yet unexpectedly create countless arbitrage windows.

Tenfold Alpha position philosophy: Use "position mixing techniques" to counter market madness.
If the crypto world is an endless party, position management is that cup of "rational cocktail" in your hand—too strong can lead to overindulgence, too weak can be boring; only precise ratios can ensure you laugh to the end with clarity.
1. Dynamic balance: Be as flexible as a bartender.
Don't put all your eggs in one basket, but also don't shatter the basket into pieces. In the 2025 market, the integration of AI and blockchain, decentralized derivatives, and carbon neutrality concepts are accelerating track rotations. It is recommended to divide positions into "core positions" (long-term value targets) + "satellite positions" (short-term trend targets), with a ratio of 6:4, and adjust dynamically based on quarterly market conditions. For example, if the AI sector is overheating, funds can be replenished to the core position to avoid FOMO (fear of missing out).

Dear friends in the crypto circle (crossed out), dear warriors in the crypto world:
Recently, when you open the market software, don’t you just want to hold your chest and sing a song (heartbeat)? The market in 2025 seems to be on a zero-gravity roller coaster, with the volatile K-line charts keeping many folks awake at night. Today, let's discuss some hardcore knowledge—how to elegantly turn around in a blood-stained market using three tricks of "buying back at original price" and weld the sickle of cutting losses into a golden rice bowl.
The first trick: pyramid bottom-fishing technique, specializing in treating shaky hands.

"Not daring to buy when it drops and slapping thighs when it rises" is a common human flaw. The veterans of the crypto circle in 2025 have long understood: bottom fishing is not about blindly going all in, but about advancing layer by layer like building blocks.

The crypto world has turned into a 'Squid Game'; what is your escape code?
The trading interface glows cold at three in the morning, fingers hovering over the 'close position' button, trembling slightly—this is the 'darkest moment' every crypto trader has experienced. Some grit their teeth and press the stop loss button, turning away from the computer to brew a cup of goji berry tea; others, with red eyes, increase their leverage by 10 times, trying to use adrenaline to combat the candlestick chart. Three months later, the former is drinking coconut juice in Hainan watching their account recover, while the latter may be contemplating the practical significance of Newton's laws on the rooftop.
15% is not a magic number; it is an escape window from the human nature laboratory.

Veterans in the crypto space understand a truth: holding onto a hundred-fold coin is not as good as learning to exit at the right position. The crypto market in 2025 will still be as thrilling as a roller coaster; those investors who have been repeatedly educated in the 519 and 312 markets finally understand — those who can buy are students, and those who can sell are the masters. Today, we won't talk about metaphysics; instead, I will teach you three practical actions to build a dynamic profit-taking system, allowing profits to grow safely like a snowball.
Step 1: Install a spring on the profits
Don’t fix the profit-taking point at a certain price, just like you can’t buy fixed-size clothes for a growing child. When your position starts to profit, it is recommended to set the initial profit-taking point within a 3-5% retreat range after breaking through key resistance levels. The beauty of this technique lies in: leaving enough room for market fluctuations while ensuring timely cashing in when the trend reverses.

Dear friends, when you are shivering in the crypto market in 2025, why not check your pockets—if you can still hear the coins clinking, congratulations, you have already outperformed those 'gambling warriors' who vanished in contract leverage. Today, we won't talk about the myth of getting rich quick, but rather how to elegantly survive in a bear market while saving some capital for future bottom fishing.
Step 1: From 'Fortune Teller' to 'Architect'
Some people think that trading coins requires predicting bull and bear markets, as if they can't feel comfortable unless they accurately forecast whether BTC will rise or fall tomorrow. It's like trying to figure out when the bubble tea shop downstairs has fewer people in line before stepping out—by the time you get it right, the limited edition has already sold out.

In the dead of night, you refresh the exchange page for the 37th time; the candlestick chart twitches like an ECG, while your account balance performs free fall. Those technical indicators revered as standards seem to collectively betray; the MACD golden cross has become a death kiss, and the contraction of Bollinger Bands has turned into a noose—this magical scene continues to unfold daily in the crypto world of 2025, only the retail investors have changed from one batch to another.
1. The Black Humor of Technical Analysis
Traders love to compare the crypto world to a casino, yet no one dares to admit they are the designed gambler. When you draw the 8th trend line on a four-hour chart at three in the morning, the big players are using algorithms to harvest all perfect patterns; when you cheer for a breakout of the previous high and prepare to go all in, whales have already planted directional explosives in the options market. Those so-called 'strategies' that claim to predict ups and downs differ from astrology only by a mathematical disguise.

When your social circle starts frequently sharing jokes like 'Bought in at 3 AM, got a seaside house by 8 AM', when a guy at the café excitedly talks about 'the last chance to go all in on life', and when a family group suddenly pops up with 'Hey niece, I heard there's something called Dogecoin 2.0' — congratulations, in the spring of 2025, you find yourself once again at the site of a large human cognitive bias experiment.
I. Survivor Theater: A One-Man Show Under the Spotlight
The most exquisite magic trick in this circle is making 99% of the audience believe they are sitting in the VIP seats. Those hands showing off yacht steering wheels on social media will never tell you how many court summons are stacked in the cabin; the 'wealth code' passionately shouted by Twitter influencers often turns into the harvester's scythe the moment they hit send.

01 The Survivor's Confession
At three in the morning, the blue light of the phone screen hits the wall, reminiscent of the death countdown when additional margin was requested on that stormy night. Lao Zhang slumped in his gaming chair, with an ashtray piled high in front of him. He said this was a lesson bought with 2 million in capital: "Leveraged trading is like walking a tightrope on the edge of a skyscraper; you think you’re holding a balancing pole, but a gust of wind can send you to ruin."
In early spring last year, when a certain AI concept stock soared 180% in a month, Lao Zhang elegantly clicked the 'Open Margin Trading' button on the broker's app, as if signing a bill in a Michelin restaurant. Ten months later, staring at the bright red number of '-127,356 yuan' in his account, he finally understood the dark humor of this era — **when you think you're playing a money game, it's actually the game playing you**.

In the world of cryptocurrency, long-term holders are often jokingly referred to as 'Zen players'—calm on the surface, yet facing turbulent waves within. From liquidation to freedom, it seems like a leap in wealth, but in reality, it is an ultimate mental training. Today, let’s set aside data and myths, and talk about how those top players who traverse bull and bear markets cultivate a state of 'immovable as a mountain' amidst the market frenzy.
Rule One: Make 'holding coins' as natural as breathing, not as urgent as a heartbeat

Many mistakenly believe that long-term holding means 'buying and then lying flat', which is a grave misunderstanding. True holders never treat the market as a casino but see it as an infinite game. They focus on the soil (fundamentals) and seasons (cycles), just like farmers, rather than the daily weather (short-term fluctuations). A player who has faced liquidation three times humorously remarked: 'I used to stare at K-line charts every day, even more diligently than binge-watching shows; now I've even forgotten my password—I'll just check again in ten years.' This 'deliberate forgetting' stems from taming human weaknesses: reminding oneself during greed that 'the market will eventually reward patience', and during fear, silently affirming that 'volatility is a free entry ticket'.

Survival Guide in the Crypto World: The Intelligence Network and Anti-Cut Strategies of Smart Money
01 There are no new things in the crypto space, only incomplete news.
In the crypto space of 2025, information warfare has entered a heated stage. Some have positioned themselves early with a news piece, others sense risk by scrolling through community dynamics, and some eavesdrop on 'big shots' at offline events—information asymmetry is a money printing machine, and 90% of newcomers often lose at the raw human stage of the intelligence system.
Five Intelligence Bases of Smart Money
Base 1: The 'Sweeping Monk' of Professional Media
Don't think traditional media is outdated in the crypto space. Those vertical media outlets that have been deeply involved in the industry for years often hide analysts of 'Sweeping Monk' level. They may not call trades every day, but a deep industry research report is worth a hundred 'pump it now' messages in communities. Remember, when looking at media, focus on who is telling the truth, not who is loudest.

At 2 AM, the phone screen suddenly lights up in the dark, and a certain crypto community explodes with a message: 'Major good news, Wall Street is about to enter!' The previously dull group chat was instantly flooded with comments like 'all in' and 'take off'. Three hours later, Bitcoin's price shot up like a jet rocket, soaring into the sky. But when the sun rose, people found that the source of this news was merely a newly renamed Twitter account, and the current price curve had drawn a more thrilling zigzag than an electrocardiogram.
1. The 'Golden Microphone' of the Crypto World

The cryptocurrency world has never lacked stories, but the most thrilling scripts are always the cat-and-mouse game between market makers and retail investors. Today, we won't discuss the myth of getting rich quickly, but rather dissect the 'legal magic' hidden behind the candlesticks — after all, in the crypto world, the market maker's harvesting scythe is a hundred times sharper than in traditional markets.
1. Accumulation: When the market falls into a 'ghost story' loop.
Imagine a mining pool suddenly losing power in the middle of the night, or screenshots of abnormal transfers from a certain exchange's wallet address going viral. Market makers are best at creating 'zero panic' at the end of a bear market. At this moment, you will notice: even though the project team is still updating code on Twitter, the community administrators are collectively silent, and the price crashes through all support levels like free fall.

In the cryptocurrency circle, there’s a saying: "Those who can buy are apprentices, those who can sell are masters," but those who can walk out of the exchange with a smile are often the floor sweepers who understand that "discipline is king." Today, we won't discuss the myths of getting rich; instead, we will talk about three rules to help you stand firm in the market, and I suggest memorizing the entire text.
First Iron Rule: Stop-loss is both a knife for cutting losses and a life-saving talisman.
When you pray for a market reversal while staring at the screen, the market maker is busy harvesting the 'stubborn faction.' The essence of stop-loss is not admitting defeat, but setting a safety cushion for yourself—fixed stop-loss is like an alarm clock, you must get up when it rings; trailing stop-loss is like climbing stairs, removing the step below you as you ascend. Remember, the market never lacks opportunities, but once your capital is gone, you can only watch.

[Opening Remarks: A Late-night Monologue of an Experienced Investor]
At three in the morning, the cold light of the phone screen hits your face as you refresh the trading app for the 108th time—half an hour ago, the token you just sold off suddenly surged by 30%, while your 'next Bitcoin' from yesterday’s all-in is now diving towards zero at a 45-degree angle. You rub your red eyes and suddenly realize: The candlestick chart in the coin circle is not a wealth code, but a mirror reflecting human nature.
(The following content is too real; it is recommended to read it with a heart-saving pill.)
1. Anti-humanity Technique No. 1: Read the white paper like (Empresses in the Palace)

You stare at that glaring candlestick chart on the screen, your finger hesitating on the keyboard for 0.03 seconds—it's this moment of hesitation that evaporates the cost of an electric vehicle from your account. Don't panic; today’s goal is not to teach you to be a victim, but to help you become the harvester, turning the market into your personal ATM with just a few lines of code.
Step 1: Transform the kitchen into an armory
Before opening the computer, first equip Python with three Swiss army knives: Pandas is responsible for slicing messy data into neat sushi rolls, Numpy boosts computational speed to drift mode, and Matplotlib can make your trading curve cooler than Van Gogh's starry night. Don't be intimidated by these terms; installing them is like adding a marinated egg to instant noodles—just follow the tutorial and click the mouse.

The cryptocurrency world has never lacked thrilling plots. One moment the candlestick chart is in a frenzy, the next it may perform a free fall. Yet, there will always be a group of 'counter-trend traders' who quietly stock up during crashes and discreetly exit during surges. Their secret weapon is that seemingly esoteric but actually scientific 'dialectic of fear and greed.'
If we compare the cryptocurrency space to a giant amusement park, the fear and greed index is like a smart wristband that accurately measures the heart rate of visitors. When the index points to 'extreme fear,' it often indicates that the market is cowering in a corner, trembling. At this time, the chips are like limited edition sneakers on sale; those in the know have already started quietly buying. Conversely, when the index soars to 'extreme greed,' even the square dance aunties are discussing Bitcoin; at this moment, the 'exit signal' is more obvious than the rush hour crowd in the subway.

▋Do you think the rises and falls in the crypto circle are all about luck?
At 3 AM, a certain whale account suddenly transferred 8,000 Bitcoins to an exchange, and two hours later, the entire network crashed by 230 million USD—this is not a movie plot but a real on-chain game that happened in the past three months. Veteran traders know that every transfer on the blockchain is a password that speaks, and those who can decrypt these signals have long treated the market like an ATM.
Today, we are going to talk about real on-chain wealth codes, not some mystical K-lines or smoke screens released by institutions. Get your pen and paper ready; here are three visible warning signals, now let’s begin.

The perpetual contract market is like a huge gladiatorial arena, where both bulls and bears wield leverage as weapons, and the funding rate is the hidden weapon in the referee's hand — you think you are betting on price fluctuations, but in reality, your fate has long been arranged by the 'liquidation rules.'
When the 'tug of war' becomes a 'meat grinder'
The original intention of the perpetual contract design was beautiful: using the funding rate as a rope to tie prices to the spot market. Bulls give bears red packets, or bears give bulls compensation, a seemingly fair mechanism, but it has completely distorted by today in 2025 — the fee calculation periods of certain exchanges are becoming increasingly 'flexible', and the direction of the fees is becoming more 'mystical', to the extent that there is a saying in the market: 'The funding rate is just a thought away, and liquidation can happen at midnight.'

At three o'clock in the morning, the cold light of the mobile phone screen hit Lao Wang's swollen eye bags. This middle-aged man who had stayed up late to watch the market for seven consecutive days had just experienced the third reset in his life. He heard his wife's sleeping breathing in his ears, but his fingers were uncontrollably refreshing the candlestick chart repeatedly - the red words "Liquidation Warning" in the lower right corner of the screen were mocking all the smart people who tried to beat the market.
But in an office building 12 kilometers away from Lao Wang's residence, professional trader Xiao Chen was yawning at the same candlestick chart. He had just used a combination of daily moving averages to triple his profits in ETH's roller coaster market, and was now thinking about whether to indulge in iced Americano or raw coconut latte tomorrow morning.