The core reason for Bitcoin's weekend plunge: BTC broke through its 200-day moving average, triggering a chain reaction of algorithmic liquidations! With no Wall Street to catch the falling knife over the weekend, algorithmic stop-loss and forced liquidation orders were placed, turning the market into a one-sided massacre. In the past 24 hours, a total of $1.945 billion in positions were liquidated across the network, of which $1.809 billion were long positions, accounting for 93%. More than 310,000 people were forcibly liquidated.