"The recent crypto flash crash hit traders and investors by surprise, with most crypto charts painted in red as billions were wiped from portfolios overnight. Bitcoin ( CRYPTO: BTC) and Ethereum ( CRYPTO: ETH) were not spared, with the duo seeing double-digit losses as traders hastily liquidated positions. According to reports from , over 1.6 million traders were liquidated within 24 hours after the crash."
"Bitcoin has shown resilience since the crypto crash that sent it tumbling in mid-September. After plunging to around $102,000, the coin has gradually steadied, now trading near $108,900. The market's structure remains cautious, with buyers testing key resistance at $110,000. This slow recovery signals attempts by bulls to reestablish momentum despite broader market uncertainty. Trading volume has thinned compared to the sharp sell-offs earlier in the month, but consistent green candles suggest renewed accumulation by long-term holders."
A crypto flash crash caused widespread losses across cryptocurrency markets, wiping billions from portfolios and triggering double-digit declines in Bitcoin and Ethereum. Over 1.6 million traders were liquidated within 24 hours, and Bitcoin's price plunged by more than $20,000, producing a $380B drop in market cap within two hours. The market has since begun to recover, with Bitcoin and Ethereum leading gains and Bitcoin trading near $108,900 after falling to about $102,000. Buyers are testing key resistance at $110,000 while trading volume has thinned and green candles suggest accumulation by long-term holders. Russia legalized Bitcoin for foreign trade and whales moving into BlackRock ETFs point to growing institutional adoption. Mining power reaching 1.1 zetta hashes per second underscores network strength and miner commitment.
Read at 24/7 Wall St.
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