Crypto's Weekend Wipeout
The price of Bitcoin fell by over $12,000, from near $123,000 to below $107,000 in minutes, causing shockwaves in the digital asset market.
This volatility drove other major cryptocurrencies like Ethereum and Solana down, creating one of the largest liquidation events in history.
A clear signal of the inherent risks in the fast-evolving market and an integral design flaw in the new Wall Street-endorsed vehicles for investing.
- The event triggered a “cascade” of forced selling, according to market analysts.
- The sheer scale of the financial bloodbath was unprecedented.
Author's summary: Crypto market faces significant volatility.
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