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. The resulting shockwaves hit the entire ecosystem and drove other major cryptocurrencies like Ethereum and Solana down even further.
This carnage created one of the largest liquidation events in history–a clear signal of the inherent risks in the fast-evolving market and, as many are realizing now, an integral design flaw in the new Wall Street-endorsed vehicles for investing.
According to market analysts, the event triggered a “cascade” of forced selling.
The sheer scale of the financial bloodbath was unprecedented.
Author's summary: Crypto market faces significant volatility.
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