According to CoinMeta, and as cited by Bloomberg based on CoinMeta data, over the past year, there have been 13 instances where the 24-hour liquidation amount for Bitcoin positions exceeded $500 million across 28 futures exchanges, with three of those instances exceeding $1 billion. Around Friday, the decline in Bitcoin led to the forced liquidation of approximately $1.3 billion in long positions in the crypto market within 24 hours, with Bitcoin positions comprising the majority of those liquidated. On Saturday during Asian trading hours, Bitcoin fell to $66,586, its lowest level since August, representing a cumulative decline of over 20% since October 21.