BTC Short-term decline of 0.81%: A wave of forced long liquidations in the futures market triggered passive selling and liquidity resonance, intensifying volatility. From 17:30 to 17:45 (UTC) on March 2, 2026, BTC experienced significant price movement, with a return of -0.81%. The price quickly dropped from 69,447.1 USDT to 68,802.7 USDT, with an amplitude of 0.93%. During this period, market trading volume significantly increased compared to the previous hour, indicating heightened selling pressure and intensified short-term volatility, attracting considerable market attention. The main driver of this movement was large-scale forced liquidation of futures long positions. Data shows that during this hour, the total forced liquidation amount in BTC futures contracts reached $117 million, with a 24-hour total of $387 million. As the price declined, leveraged longs were forced to exit passively, creating a waterfall-like chain of sell-offs. Market depth rapidly contracted, slippage on sell orders increased, technical indicators remained weak, with the price trading below the EMA50 moving average, RSI showing little recovery, and bearish sentiment further amplifying negative feedback. Additionally, the funding rate for derivatives turned negative, indicating waning bullish enthusiasm, while put options held a slight advantage. Social media sentiment showed increasing bearish voices, with some KOLs warning of potential short-term pullback risks. There were no major negative macroeconomic events; this movement mainly reflects internal structural adjustments. On-chain data did not detect large transfers or whale manipulations. Historical comparisons suggest that the current deleveraging scale is approaching the high point of the first quarter, with multiple factors overlapping to create short-term resonance in volatility. The current risk of fluctuation remains high; investors should closely monitor BTC’s subsequent technical support levels, trading volume changes, and the flow of futures and on-chain funds. It is recommended to focus on signs of liquidity recovery and sentiment stabilization in the short term, avoiding high leverage and chasing rallies. Real-time market data and on-chain changes can help anticipate future movements. #伊朗局势升级