Did 283 million USD get liquidated in 3 hours? What exactly is causing this market panic?

Within just 3 hours of the New York market opening, approximately 283 million USD worth of positions were liquidated—this isn't normal volatility; it's an "emotional stampede."
In New York City, the heart of global finance, everything is amplified, including panic and greed.
Why does such an extreme situation occur?
The reason is quite "human":
When prices fluctuate rapidly, leverage mechanisms trigger a chain reaction like dominoes falling.
Several key factors stack up:
Liquidity concentration → triggers liquidation → further price swings → more liquidation
As a result, a small fluctuation turns into a major event.
But interestingly, this kind of situation is often not "bad"—it's a way for the market to self-regulate.
It clears out overly aggressive participants, temporarily restoring balance to the structure.
Of course, from the perspective of those inside the market, this "regulation" is far from gentle.
So what you're seeing isn't just simple price movements, but a game of "leverage versus emotion."
Summary: The market is not just about price fluctuations; it's a test of psychological limits 📊#Gate13周年现场直击