Bitcoin (BTC) price tumbles below $48,000 on Lighter as $67 million sell order triggers flash crash
CoinDesk
Bitcoin briefly crashed below $48,000 on the Lighter exchange due to a large sell order, despite a broader market rally.Summary
While the general cryptocurrency market was surging, Bitcoin (BTC) experienced a brief, 30% flash crash, dropping below $48,000 on the decentralized perpetuals exchange Lighter. This extreme move, which lasted only seconds, was caused by a single sell order for approximately 1,000 bitcoin, valued at about $67 million at the time. Pseudonymous developer 0xTimberJ explained that Lighter's thin liquidity amplified the trade, wiping out all available bids. This incident contrasted sharply with the rest of the market, where Bitcoin was simultaneously climbing from below $64,000 to over $69,000. Lighter, an up-and-coming exchange challenging Hyperliquid, has seen its trading volume decline since its token airdrop late last year.
(Source：CoinDesk)