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Something happened on this day..
On August 17 (specifically in 2023), the crypto market witnessed a major shock and a large-scale liquidation that exceeded one billion dollars. It was accompanied by rumors that SpaceX sold its Bitcoin holdings, alongside the announcement that the Chinese real estate giant Evergrande went bankrupt in New York—sparking a sudden and severe wave of decline.
Here are the most notable events and circumstances that accompanied this extraordinary day:
Details of the crash and liquidations..
Futures liquidation: More than $1.05 billion was wiped out from traders’ positions within just a few hours, with the largest share coming from buy trades (Long Positions).
Bitcoin drop: Bitcoin’s price fell sharply and abruptly, breaking the $26,000 level and recording its lowest point in two months.
Jump in volatility: The Bitcoin implied volatility index surged to unprecedented levels within the span of one year.
Rumors and external pressures..
SpaceX reports: Press reports spread, based on leaked documents, claiming that the space company reduced the value of its Bitcoin holdings by $373 million and sold part of them.
Evergrande bankruptcy: The collapse coincided with the Chinese group “Evergrande” announcing that it had filed for bankruptcy protection in a New York court, further intensifying panic across global markets.
$BTC #SpaceX #Evergrande $SPCX
On August 17 (specifically in 2023), the crypto market witnessed a major shock and a large-scale liquidation that exceeded one billion dollars. It was accompanied by rumors that SpaceX sold its Bitcoin holdings, alongside the announcement that the Chinese real estate giant Evergrande went bankrupt in New York—sparking a sudden and severe wave of decline.
Here are the most notable events and circumstances that accompanied this extraordinary day:
Details of the crash and liquidations..
Futures liquidation: More than $1.05 billion was wiped out from traders’ positions within just a few hours, with the largest share coming from buy trades (Long Positions).
Bitcoin drop: Bitcoin’s price fell sharply and abruptly, breaking the $26,000 level and recording its lowest point in two months.
Jump in volatility: The Bitcoin implied volatility index surged to unprecedented levels within the span of one year.
Rumors and external pressures..
SpaceX reports: Press reports spread, based on leaked documents, claiming that the space company reduced the value of its Bitcoin holdings by $373 million and sold part of them.
Evergrande bankruptcy: The collapse coincided with the Chinese group “Evergrande” announcing that it had filed for bankruptcy protection in a New York court, further intensifying panic across global markets.
$BTC #SpaceX #Evergrande $SPCX
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