Bitcoin Flash Crash: What Caused BTC to Plummet to $8,900 on BitMEX?
Tuesday, 19 March 2024, 05:06
Bitcoin Flash Crash on BitMEX
Bitcoin plummeted to $8,900 on BitMEX following large sell orders totaling $55.49 million, causing a momentary panic in the market.
Reasons Behind the Crash
- Amount of Sell Orders: $55.49 million in sell orders led to the sudden drop in bitcoin's price.
- Market Reaction: The crash was short-lived, indicating a temporary market reaction to the sell-off.
In the aftermath of the flash crash, bitcoin's price stabilized, highlighting the resilience of the cryptocurrency market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.