What’s behind BTC’s flash-crash rebound? $715 million in long positions liquidated—did the market makers win big again?

BTC’s latest move was like a roller coaster!
In just 15 minutes, the price briefly fell to $73,510 before quickly rebounding. But although the price recovered, investors’ accounts may not have.
Data shows that around $745 million in positions across the market were liquidated in just one hour, including about $715 million in long positions.
It was a brutal scene: the price merely sneezed downward, but highly leveraged accounts went straight to the emergency room.
Why was the market so volatile?
When the market has accumulated a large number of leveraged long positions, a rapid price drop can trigger a cascade of liquidations. Forced liquidations add further selling pressure, accelerating the price’s decline in the short term.
Then, if buying support strengthens at lower levels, the price may quickly rebound, forming a classic flash-crash pattern.
But this doesn’t mean market makers deliberately caused the liquidations, nor does it prove the decline is over.
Next, watch whether BTC can hold steady in the $73,000–$75,000 range and whether spot buying genuinely picks up.
What’s truly worth watching out for isn’t a single flash crash, but rebounds that grow weaker each time.$MU #BTC闪崩插针