Bitcoin surged higher then fell back below $87,000, Ethereum lost the $2,900 mark! Brother Maji continued to go long for a week, losing $3.4 million.

Bitcoin experienced a “pump and dump” market on the night of December 17: first around 22:45, Bitcoin started a rapid ascent, briefly breaking through $90,000; however, selling pressure soon emerged, causing Bitcoin to retrace its gains and even fall below $87,000. Ethereum followed a similar pattern, initially breaking through $3,000, then quickly retreating, currently reporting around $2,850 at the time of writing.
(Background summary: Is the Bitcoin selling pressure about to end? K33: Long-term holders are exiting the market, and institutional demand in 2026 offers a turning point)
(Additional background: Bloomberg analyst: Bitcoin will “drop to $10,000” after bullish momentum exhausts, community sarcasm: forever wrong prognosticator)

Bitcoin experienced a “pump and dump” market on the night of December 17: first around 22:45, Bitcoin started a rapid ascent, briefly breaking through $90,000; however, selling pressure soon emerged, causing Bitcoin to retrace its gains and even fall below $87,000. Ethereum followed a similar pattern, initially breaking through $3,000, then quickly retreating, currently reporting around $2,850 at the time of writing.

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According to CoinGlass data, during this volatile market, the total liquidation amount across the entire network in the past 4 hours reached $194 million, with longs being liquidated for $72 million and shorts for $121 million.

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Brother Ma Ji chased the rally and suffered heavy losses

It is worth mentioning that Taiwan’s well-known crypto investor Brother Ma Ji Huang Licheng once again chased the rally during this evening’s market move. @OnchainLens monitoring shows that Brother Ma Ji deposited 149,904 USDC in the evening, opened a 40x Bitcoin long position, a 10x HYPE long position, and increased his Ethereum long position by 25x, but all three are currently at a loss.

Additionally, according to hyperbot data, over the past week, Brother Ma Ji, known as the “Long King,” has accumulated a loss of $3.4 million, showing a continuous retreat.

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