Bitcoin Price Chaos: Weekend Swings Trigger Liquidations

Bitcoin experienced explosive price swings over the weekend, with an overnight surge reaching near $106,000 before a rapid sell-off brought prices back down to around $103,000. The volatility was triggered by leveraged trading that resulted in over $600 million worth of derivatives being liquidated. This accelerated market fluctuations as liquidity thinned, leading to both short and long positions being swiftly closed.