The total crypto market cap stood at $2.66 trillion at 1:00 AM UTC, with only around $6 million in long liquidations.
Then the flash crash hit.
Within just 6 minutes, the market cap plunged to $2.55 trillion — wiping out roughly $108 billion.
Long liquidations then surged from $6 million to nearly $500 million in just 30 minutes.
That was an absolutely brutal market move
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