Why Did Bitcoin’s Price Slump by $2K in 20 Minutes?
🚨 Bitcoin faced a sharp decline, dropping $2,000 to below $84,000 after holding steady above $85,600, leading to over $550 million in liquidations, primarily from long positions.
💔 Ethereum longs were significantly impacted, contributing to a 4% drop in ETH's price, while other altcoins like XRP, HYPE, DOGE, and ADA experienced losses of up to 6%.
🔍 Speculations about the crash include a US government transfer of 834 BTC and 40,285 BNB to Coinbase, along with suspicious activities from newly created wallets that deposited $1 million USDC and opened 40x shorts just before the market downturn.
🚨 Bitcoin faced a sharp decline, dropping $2,000 to below $84,000 after holding steady above $85,600, leading to over $550 million in liquidations, primarily from long positions.
💔 Ethereum longs were significantly impacted, contributing to a 4% drop in ETH's price, while other altcoins like XRP, HYPE, DOGE, and ADA experienced losses of up to 6%.
🔍 Speculations about the crash include a US government transfer of 834 BTC and 40,285 BNB to Coinbase, along with suspicious activities from newly created wallets that deposited $1 million USDC and opened 40x shorts just before the market downturn.