A recent market event delivered a sudden test. Yesterday's flash crash of the USD1 stablecoin trading pair wiped out the market from $87,000 to $24,000, instantly turning the positions of 78,000 traders into nothing. At first glance, it seemed like a market crash, but it actually reflected a deeper risk—the liquidity trap of unknown stablecoin trading pairs.

Today, the market has adjusted across the board, with BTC struggling to hold the critical support level at $87,000. Once this level is broken, larger fluctuations may follow. Altcoins are suffering even more; leading small-cap coins have fallen nearly 9%, and the entire sector is bleeding. Don't forget, just two days ago, a $28 billion options settlement was completed, and the volatility released by such a large capital transfer has not yet fully dissipated.

Those who have experienced this round of market movements can understand what a "moment of shock" truly means, and from it, they have learned several painful lessons:

First, avoid trading pairs with extremely low trading volume and low visibility, especially those involving non-mainstream stablecoins. These trading pairs are like black holes—liquidity is extremely thin, and large inflows or outflows can trigger extreme market reactions that retail traders simply cannot react to.

Second, the current market rhythm is to prefer missing out rather than making mistakes. Small-cap coins with overly concentrated holdings should be approached with caution, as they are easily manipulated by large players, increasing risk exponentially.

Finally, if you must participate in futures trading, leverage should be kept at the lowest level, and stop-loss orders must be set in advance. Don’t become the next "sacrificial lamb" in a flash crash.