Let's break down those concepts in the trading market that have been beaten to death but no one truly understands.

First is "whale." The essence of trading is buying and selling; where there are buyers, there are sellers; big funds mean retail traders. If someone gets liquidated, a "whale" might also get liquidated. So there’s no absolute distinction between whales and retail traders—everyone is just a trader. That’s the truth.

Next is "technical adjustment." What technical aspect needs adjusting? Will it go up or down after the adjustment? Honestly, no one can say for sure. If someone could, they'd be a prophet. When others talk about technical adjustments, it’s basically just an excuse to cover up their own missed opportunities.

"News" is even more interesting. What news is coming next week? What events are happening next month? So everyone just waits. When the news actually arrives, there’s a flurry of interpretations—no matter how you interpret it, the market still trades. News is just an excuse to delay decision-making.

And what about "macro"? Is it macro to say BTC will reach $1 million in ten years, or macro to say it will drop to $8,000 in a year? The truth about macro is simple: it’s prediction, a way to cope with current uncertainty. But as soon as prediction is involved, the market becomes nonsensical.

Finally, the most classic is "shakeout." Who is shaking out? How are they doing it? Why shake out? Will it go up or down afterward? Probably no one can give a definitive answer. Why? Because fundamentally, it’s just an excuse.

ETH, BTC... those common crypto terms traders use every day. These pseudo-concepts have been beaten to death long ago, but few truly understand their essence. Most of the time, people use these words to explain failures rather than genuinely confronting the logic of trading itself.