The Devastating Bitcoin Flash Crash: Over $220 Million Lost, Liquidating 81,000 Crypto Traders
In a dramatic downturn for the cryptocurrency market, a flash crash in Bitcoin's price has led to over 81,000 traders being washed out of their positions, culminating in more than $220 million in losses. The event occurred as Bitcoin took a bearish turn, slipping below $69,000 once again at the start of this week. Though some recovery in Bitcoin’s price has been noted since the crash, the blow to the crypto trading community has been substantial.
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