$BTC #比特幣 'The Great Wrath God' Reappearance!

Both long and short positions wiped out, over $680 million in liquidations across the entire network!

According to CoinGlass data statistics, since the evening of the 19th, over $680 million in cryptocurrency derivatives positions have been forcibly liquidated, with long positions accounting for $460 million and short positions also suffering, with losses exceeding $220 million.

Market participants speculate that such sudden price fluctuations are likely related to thin liquidity over the weekend (U.S. time) and the triggering of 'algorithmic trading' due to technical breakout points.

Funds quickly flooded into the market, igniting a typical 'Short Squeeze' scenario. As prices surged rapidly, short sellers were forced to cover at high prices, pushing the rally higher and higher, but subsequently, profit-taking and stop-loss selling pressure emerged, leaving the bulls unable to escape, and the decline came like a torrential flood, creating a shocking scene.

'Simply put, U.S. institutions caused violent market fluctuations through quantitative ordering in recent days'