**[“1011 Crash” One-Year Retrospective: Crypto Market Risks Persist, Investors Should Manage Leverage Prudently]** BlockBeats News, October 10 – It has been one year since the “1011 Crash.” At that time, Bitcoin, shortly after reaching its all-time high of approximately $126,000, rapidly dropped from around $122,000 to $105,000, triggering an epic $19 billion liquidation in the crypto market. On this anniversary, institutional analysts have revisited and summarized the impact and lessons of the “1011 Crash” on the crypto market. Mark Connors, Head of Risk Dimensions, stated that the market peak formed extremely quickly, with open interest nearing historical highs. A large number of traders were betting on Bitcoin continuing its four-year cycle upward trend, but the market reversal ultimately led to significant losses. The “1011 Crash” was primarily driven by the derivatives market rather than changes in on-chain demand, indicating that leveraged positions can still dominate Bitcoin’s price movements in the short term. He noted that leveraged trading, such as perpetual contracts, remains prevalent, and the market still has the foundation for similar crashes to occur again. Chris Sullivan, Co-Founder of Hyperion Decimus, advised traders to reduce leverage and monitor indicators such as open interest, funding rates, and market sentiment to identify risks of excessive one-sided bets in the market. Connors also mentioned that while investors’ understanding of market structure has improved, the effectiveness of Bitcoin’s “four-year cycle” as a price prediction indicator is diminishing, with macroeconomic and political factors potentially playing a larger role. (CoinDesk) [Original Link]