Black Swan Event—a term every trader should understand. It describes an extremely rare, seemingly unpredictable occurrence that breaks the bounds of what historical data and conventional models would suggest is possible. When a black swan hits, it typically triggers massive, market-wide consequences: liquidations accelerate, positions unwind rapidly, and losses cascade across portfolios. The tricky part? After it happens, we always find ways to rationalize it in hindsight, spotting 'warning signs' that weren't obvious beforehand. In crypto, these events—flash crashes, exchange collapses, sudden regulatory announcements—remind us why risk management and diversification matter more than most realize.