Bitcoin has experienced 13 liquidations of $500 million or more within a year, with frequent sell-offs in leveraged trading.

Over the past year, there have been 13 instances of Bitcoin being liquidated in a single day with a value exceeding $500 million, including three instances where the liquidation amount exceeded $1 billion. In the latest round of sell-offs, the 24-hour liquidation of long positions in the crypto market reached approximately $1.3 billion, with Bitcoin positions accounting for the majority of that. High-leverage trading and macroeconomic news shocks exacerbated market position collapses, and derivatives trading has become the norm in the crypto market. Low liquidity before the start of the European trading session easily triggered a chain reaction of stop-loss orders. (Source: Bloomberg)