The price of Bitcoin has recently shown a significant pullback, with three consecutive days of falling trends catching the market off guard. The latest data shows that the price of Bitcoin has reached a low of $104,818, which is over a 5% drop from this week's high of $110,417 in just three days, indicating a significant loosening of the defense line for bullish investors.

The international geopolitical situation has once again become tense, serving as a major catalyst. Reports indicate that conflicts in the Middle East have escalated, with a certain country launching military operations in a strategic area against its neighbor, while the United States is simultaneously evacuating relevant personnel to mitigate risks. This series of events has triggered a sharp rise in global risk aversion, leading to a rapid deterioration of market sentiment.

In the midst of severe fluctuations, a wave of liquidations quickly swept across the entire cryptocurrency market. Data shows that in the past 24 hours, the total liquidation amount across the network has exceeded $1.15 billion, with the liquidation amount of Bitcoin long positions reaching $448 million, making it the most severely affected group in this round of market adjustments.

Analysis suggests that market volatility may continue to expand in the short term, and investor sentiment remains fragile. In the current market conditions, it is particularly important to reasonably control positions, and investors should be wary of the risks of entering at high levels.