Bitcoin Flash Crash Wipes Out $128 Million in Long Positions as Price Briefly Dips Below $90,000
Bitcoin briefly crashed below $90,000, liquidating $128 million in long positions amid high volatility.Summary
Bitcoin (BTC) experienced a sharp flash crash on Thursday, briefly falling to an intra-day low of $89,641 before recovering above $90,000. This volatility resulted in the liquidation of approximately $128 million in leveraged long positions, underscoring the risks for leveraged traders in the current tight trading range. The sell-off followed significant net outflows of $486 million from US spot Bitcoin ETFs on Wednesday, indicating institutional activity is heavily influencing price action. Analysts suggest the price is mechanically suppressed between $90,000 and $95,000 due to dealer hedging, with $100,000 acting as a resistance wall. Experts believe a meaningful breakout will depend on expiring options later in the month or a return of institutional demand, though structural strength suggests a major crash from all-time highs is unlikely.
(Source：BeInCrypto)