Crypto's Weekend Wipeout Exposes a Glaring Flaw in Wall Street's Bitcoin ETFs
While traders blinked, the price of Bitcoin fell by more than $12,000--falling from near $123,000 to below $107,000 in minutes.
Last weekend, the market for digital assets hit disarray in an extraordinary show of volatility, driving other major cryptocurrencies like Ethereum and Solana down.
The resulting shockwaves created one of the largest liquidation events in history, signaling the inherent risks in the fast-evolving market and a design flaw in Wall Street-endorsed vehicles for investing.
According to market analysts, the event triggered a
"cascade" of forced selling.
The sheer scale of the financial bloodbath was unprecedented.
Author's summary: Crypto market faces volatility and design flaws.
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