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Details: ht
The actual fluctuation is not significant, but the liquidation amount is the largest single-day liquidation of this bull run, indicating that the long positions in the market are very crowded.
In the absence of obvious bearish news, the main players choosing to crash the market during non-U.S. stock hours can only be attributed to the exchange itself, as only the exchange knows how rare this opportunity is: it only takes a drop of less than 10 points to take away most of the retail investors' capital.
Additionally, from the long-short ratio and the final liquidation data on the exchange, apart from Bitcoin and BNB, Ethereum and other altcoins are clearly in a position where retail long positions dominate. The exchange only had to dump less than 10 points to cause the largest single-day liquidation of this bull run. One can only say that the exchange is such a damn dog.