Due to geopolitical conflicts and other impacts, the liquidation concentrated in the range of 103,000 - 105,000 to 106,000. Due to events such as Israel's airstrikes on Iran, the price of Bitcoin plummeted, triggering massive liquidations when the key support level of 103,000 was breached; in the subsequent price fluctuations, there was intense speculation around 105,000 - 106,000, with frequent liquidations in high-leverage trading, corresponding to the peak area in the chart (around the price level of 105,000 and its surroundings).

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