Wu said that according to Coinglass data, BTC and ETH have both retreated after hitting intraday highs, with a daily decline exceeding 4%; in the past 24 hours, over 1 billion dollars in liquidations occurred across the network, with long positions liquidated at 782 million dollars, affecting 219,500 users, and the largest single liquidation occurred on Bybit - BTCUSD worth 10 million dollars.