BTC flash crash reappears, leading to $1.72 billion liquidation

In the past 24 hours, the cryptocurrency market has experienced a large-scale liquidation. This turbulent situation has been exacerbated by the recent fluctuations in BTC prices, especially when BTC surpassed the $100,000 threshold, triggering a chain reaction of forced close positions for longs and shorts.

Bitcoin Fluctuation, once again causing turmoil in the encryption currency market, leading to a liquidation of up to $1.72 billion in just a few hours. This is the second lightning crash of BTC in a week, exacerbating the chaotic situation in this already volatile market.

In the recent fall, BTC fell from a high of 100,000 to a big dump of 94,000 USD, and then rebounded to around 97,000 USD; Ethercoin also fell from 3,900 USD to 3,400 USD. This sharp decline has raised concerns among traders, especially those with excessive leverage, as consecutive liquidations have further amplified market fragility.

In addition to the Fluctuation of BTC, other altcoins such as XRP and GALA have also suffered significant losses, with some currencies experiencing double-digit declines. According to data, the CoinDesk 20 index, which tracks the largest market capitalization tokens, has fallen by more than 8%.

Despite the market turmoil, there are still some Large Investors taking advantage of the situation, with one accumulating 600 BTC worth $58.85 million during the price decline. This opportunistic buying behavior highlights the enduring appeal of BTC, even during periods of Fluctuation. Solana, Ethercoin, and Dogecoin and other major Tokens quickly rebounded after the decline, reaching $237, $3,780, and $0.42 respectively. The overall crypto market has shown significant resilience, with only minor declines in other coins while BTC fell.

Although the cryptocurrency market has indeed experienced a large-scale liquidation, experts say that this may represent a healthy correction in the market after an unprecedented rise. However, this also highlights the necessity for improving risk management in the cryptocurrency trading sector brought by the risks of high-leverage exchanges.

〈BTC Lightning Crash Reappears, Causing $1.72 Billion Liquidation〉This article was first published on 'Block Times'.