Bitcoin has experienced 13 single-day liquidation events exceeding $500 million over the past year, with three topping $1 billion, according to Bloomberg. In the latest selloff, approximately $1.3 billion in long positions were wiped out across the crypto market within 24 hours, with Bitcoin accounting for the bulk of the losses. Industry insiders attribute the growing frequency of large-scale liquidations to high-leverage trading and macro news shocks triggering cascading stop-loss orders. Thin liquidity ahead of the European trading session further amplifies chain-reaction effects. Meanwhile, some market participants note that a pullback in AI stocks may be drawing speculative capital toward tech equities rather than Bitcoin, as spot ETFs position BTC as a macro asset competing for limited risk capital.