In the Bitcoin world, every violent fluctuation may cause huge waves in the market. When the $629 million liquidation event occurred, the price of Bitcoin plunged by $850 in the early morning. The entire digital currency market was in turmoil, and countless investors were uneasy. So, what is going on behind all this? Let us uncover this thrilling story together.

Bitcoin has always been a star in the digital currency market, and its price fluctuations have attracted attention. The $629 million liquidation incident once again made people see the risks and challenges of the Bitcoin market. What kind of inside story is hidden behind this time? We will conduct in-depth analysis from different angles to uncover the truth of this shocking incident.

First, we have to mention the speculative nature of the Bitcoin market. In the field of digital currencies, speculative trading is common. Investors often hope to obtain high profits through short-term trading, however, this behavior also brings great risks. The violent fluctuations in Bitcoin prices are the result of speculative trading. Once market sentiment is affected, prices will fluctuate sharply, triggering a chain reaction and causing the loss of huge amounts of money.

Secondly, technical factors are also an important reason for Bitcoin’s plunge. The trading platform technology of the digital currency market is not perfect, and there are system loopholes and security risks. During this plunge, some investors said that an abnormality occurred on their trading platform, which prevented them from closing their positions in time, resulting in huge losses. The existence of technical problems has further amplified the risks in the digital currency market, and investors need to be wary of this potential risk.

In addition, regulatory policies also affect the volatility of the Bitcoin market to a certain extent. In recent years, governments of various countries have increasingly strengthened their supervision of digital currencies, and some countries have successively introduced strict regulatory policies to restrict the circulation and transactions of digital currencies. The introduction of this kind of policy has increased uncertainty in the digital currency market, affected investor confidence, and intensified market volatility.

In addition to the above factors, external factors such as the global economic situation and geopolitical risks also affect the fluctuation of Bitcoin prices to a certain extent. As a global asset, Bitcoin's price fluctuations are affected by many global factors. Therefore, when trading Bitcoin, investors need to comprehensively consider the comprehensive impact of various factors and make rational decisions.

To sum up, the $629 million shock behind Bitcoin’s plunge is a true reflection of the risks and challenges in the digital currency market. Speculative transactions, technical issues, regulatory policies, external factors and other factors work together to form a complex background for Bitcoin price fluctuations. When participating in digital currency transactions, investors need to remain cautious, analyze rationally, and avoid risks in order to remain invincible in the market. I hope that every investor can overcome the thorns, overcome the thorns, overcome the thorns, overcome the thorns, overcome the thorns, overcome the thorns, overcome the thorns, overcome the thorns, overcome the thorns, overcome the thorns, overcome the thorns, overcome the thorns, overcome the thorns, overcome the thorns, overcome the thorns, overcome the thorns, overcome the thorns, overcome the thorns, Beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns. thorns cut through thorns, Beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns, beat the thorns. thorns cut through thorns, Cut through the thorns, cut through the thorns, cut through the thorns

This Bitcoin plunge is not only a storm in the digital currency market, but also a test of investors' risk awareness and coping capabilities. Only by foresight and sizing up the situation can we remain invincible in the market's rapids. I hope every digital currency investor can overcome obstacles, move forward courageously, grasp the true meaning of investment, seize every opportunity, and meet future challenges. May we create our own legend in this world of digital currency.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

According to data provided by qkl123.com, at around 5 a.m. on February 20, Beijing time, the price of Bitcoin fell by $850 in a short period of time, from a high of $10,200 to a low of $9,350. As of press time, it has rebounded to around $9,630.

This also caused a chain reaction in the cryptocurrency market. Calculated by market value, the top 10 cryptocurrencies have all experienced a dive, with BCH falling by 8% and EOS falling by 12%. The market value of the entire cryptocurrency market has also evaporated by about $20 billion in one day.

According to the statistics report of Hetongdi Market: In the past 24 hours, the total liquidation of the contract market in the entire network was $629 million, and the number of liquidations was 19,282. Among them, Huobi
exploded $100 million, $173 million, $171 million, and BitMEX exploded $182 million. The top three currencies in terms of liquidation amount are BTC $390 million, ETH $94.38 million, and EOS $69.21 million.

Since the beginning of this year, the cryptocurrency market has risen by about 50% overall, with Bitcoin breaking the $10,000 mark several times. Many investors and analysts have also said: "We will never see Bitcoin fall below $10,000 again."

However, reality is always so unsatisfactory, and these unfounded predictions were quickly slapped in the face. Because for whales, short-term price manipulation of hundreds of dollars is not that difficult.

In terms of news, there was a malfunction last night. After that, the exchange issued an announcement that the system will be temporarily maintained, during which time recharges, withdrawals, spot and leveraged transactions, C2C transactions, Bao subscription and redemption, and fund transfers (sub-accounts, leveraged accounts, contract accounts, and fiat currency accounts) will be suspended. Contract transactions will not be affected. Binance CEO Zhao Changpeng said on Twitter that the temporary maintenance was due to problems with market data, and other than that "no data was lost or damaged." At around 1:30 a.m. today, Binance resumed trading.

In addition, another rumor about problems with the Korean exchange upbit was also reported last night. As of now, the news has not been confirmed.

Despite this, many investors remain optimistic about the future of the entire cryptocurrency market. A more common view is: 

"With the approaching Bitcoin halving event, the market is still in an upward channel overall, but sharp fluctuations in the short term are difficult to avoid, so this period will be very dangerous for high-leverage transactions."

Some people also complained: "Maybe when no one says that BTC below $10,000 will be seen, we can truly realize this wish."