Crypto's Weekend Wipeout Exposes a Glaring Flaw in Wall Street's Bitcoin ETFs
While traders blinked, the price of Bitcoin fell by more than $12,000--falling from near $123,000 to below $107,000 in minutes.
Last weekend, the market for digital assets hit disarray in an extraordinary show of volatility, with the price of Bitcoin falling by more than $12,000 in minutes.
The resulting shockwaves hit the entire ecosystem, driving other major cryptocurrencies like Ethereum and Solana down even further, creating one of the largest liquidation events in history.
According to market analysts, the event triggered a
"cascade" of forced selling, a clear signal of the inherent risks in the fast-evolving market and an integral design flaw in the new Wall Street-endorsed vehicles for investing.
The sheer scale of the financial bloodbath was unprecedented.
Author's summary: Crypto market volatility exposes flaw in Bitcoin ETFs.