Bitcoin crashes 5% in ‘Sunday slam’ as liquidations surge

Bitcoin experienced a sharp decline of nearly 5% on Sunday, dropping from around $91,500 to $86,950 in just three hours, an event dubbed the 'Sunday slam.' This sudden drop occurred without an obvious news catalyst and followed Bitcoin's worst monthly performance since 2018, ending November down 17.49%. The crash triggered $539 million in liquidations over 24 hours, with nearly 90% of those being long positions, primarily in BTC and Ether. Analysts suggested the flash crash was due to a sudden surge in selling volume amplifying liquidations of highly leveraged positions, noting that such large Sunday moves are common. Despite the drop, some analysts remained bullish, viewing the move as a necessary sweep of downside liquidity.

(Source：Cointelegraph)