Cryptocurrency Q&A
What happened to bitcoin in a flash crash?
What happened to bitcoin in a flash crash?
Sofia
Tue Jul 09 2024
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6 answers
1211
Could you elaborate on the circumstances surrounding the recent flash crash in Bitcoin? Specifically, I'm interested in understanding the trigger points, the extent of the price drop, and any potential ripple effects it may have had on the overall cryptocurrency market. Was there a significant sell-off that initiated the crash? Did it occur suddenly or over a prolonged period? Also, how did investors react, and what strategies were implemented to stabilize the market? Understanding these details will help us gain a more comprehensive perspective on the events surrounding this flash crash.
6 answers
KpopHarmonySoulMateRadiance
Thu Jul 11 2024
The abrupt flash crash saw a near 9.5% drop in the cryptocurrency's value.
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KpopStarletShineBrightness
Thu Jul 11 2024
The impact of this crash was substantial, leading to the liquidation of crypto long positions worth over $595 million in the past 24 hours.
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Giulia
Thu Jul 11 2024
Specifically, data from CoinGlass revealed that within the past hour alone, Bitcoin long positions worth $137 million were liquidated.
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Martina
Thu Jul 11 2024
Bitcoin's price witnessed a significant downturn, according to recent data from CoinMarketCap.
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Filippo
Thu Jul 11 2024
The liquidation of these long positions indicates a widespread sell-off among investors, who had previously been bullish on the cryptocurrency's future.
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