$745 million wiped out in one hour! Bitcoin suddenly plunged—who exactly was behind the liquidation button?

The crypto market gave everyone another expensive lesson in risk management today.
SBTC suddenly plunged, hitting a low of $73,510 within 15 minutes before quickly rebounding. This up-and-down move may have looked like a small wiggle on the candlestick chart, but in reality, it triggered a major shock for countless trading accounts.
In just 1 hour, liquidations across the market totaled about $745 million, of which long positions accounted for about $715 million.
What does that mean? Long traders had expected the market to keep rising and were ready to use leverage to amplify their gains. Unexpectedly, the market suddenly reversed; before they could realize any profits, the market had already kicked their margin out of the chatroom.
This once again shows that leveraged trading is sometimes like borrowing money to buy a roller-coaster ticket: the thrill is real, but so is the pain when you fall.
However, the rapid price rebound is also worth watching. After a large number of highly leveraged positions were cleared out, short-term selling pressure may have eased, but that doesn't mean the risk is over.
What really needs to be watched next is whether the $73,000–$75,000 range can hold.
If it holds, market sentiment may gradually recover; if it doesn't, another wave of selling pressure may emerge.
So, was this sudden wick a leverage flush or the prelude to a decline? The answer will likely depend on the price action ahead.$BTC

‌#BTC闪崩插针