Bitcoin flash crashes by $2K in 5 minutes, liquidating $600M in longs
A flash crash on short timeframes for BTC/USD induces panic among long traders, but for analysts, it's business as usual. Bitcoin (BTC) fell over $2,000 in five minutes on March 31 as a wave of volatility disrupted an otherwise calm market.BTC/USD 1-minute candle chart (Bitstamp). Source: TradingviewBTC sees sudden volatilityCointelegraph Markets Pro and Tradingview showed a nightmare for long traders unfold on Wednesday, with BTC/USD suddenly dropping from $59,350 to $57,000.At the time of writing, the losses were still mounting after the pair hit lows of $56,713 on Bitstamp. "Exactly....
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Bitcoin underwent a mini flash crash on Wednesday as its price fell from $59,400 to nearly $57,000 in just five minutes of trading. Analysts blamed overleveraged long positions for the downside move, with the plunge liquidating about $600 million worth of extended bullish contracts across major futures exchanges. The wipeout followed up with a short […]
The market may witness flash crashes in the near term, and another March 12 drop is not completely off the map. It is no secret that March 12, 2020, marked one of the darkest days in crypto history. This was the day when Bitcoin (BTC) witnessed one of the largest single-day price dips in its decade-long existence, swooping from $8,000 to a staggering low of $3,600, albeit briefly, just for a matter of minutes. To put things into perspective, within a span of just 24 hours, over $1 billion worth of BTC longs were liquidated, causing one of the most intense value drops witnessed by the....
Highly volatile cryptocurrencies like Bitcoin, Ethereum, and other altcoins can behave irrationally at any given moment, especially when turbulence strikes. But what happened this morning on the US branch of Binance, was shocking for even those who have seen flash crashes happen in real time. The result of a massive wick left on the BTCUSD chart was a violent trip to $8,000 where coins were potentially exchanged for prices that are currently 87% lower than where Bitcoin is trading at right now. Here is a closer look at what went down, and what might have happened as a result. Flash Crash....
Cardano (ADA) has not been left out of the massive flash crash that just occurred throughout the market. What seemed to be a good day for bitcoin as El Salvador’s “Bitcoin Day” began has now turned to nothing short of a nightmarish market opening. The crash saw bitcoin drop $6K in only a matter of hours. While the general altcoin markets have recorded crashes as high as over 20% in the same timeframe. With altcoins following bitcoin closely, the price of the ADA shows similar movement patterns to BTC following the flash crash. The number 1 crypto coin fell to the mid-$40K, taking the whole....
Flash loans allow users to borrow a high amount of assets without having to provide any upfront collateral, this is often used by miscreants to launch attacks on DeFi protocols. New Free DAO, a decentralized finance (DeFi) protocol, faced a series of flash loan attacks on Sept. 8, resulting in a reported loss of $1.25 million. The price of the native token has dropped by 99% in the wake of the attack.Unlike normal loans, several DeFi protocols offer flash loans that allow users to borrow large amounts of assets without upfront collateral deposits. The only condition is that the loan must....