From BigGo Finance · BigGo Finance · · 1m 10s
Crypto and AI Perpetuals Flash Crash
Weekend flash crash in crypto and AI perpetuals sparks 'Black Monday' fears.
In brief
Weekend flash crash in crypto and AI perpetuals sparks 'Black Monday' fears. Bitcoin, Ethereum and AI semiconductor futures dropped sharply before rebounding, liquidating millions in leveraged positions as global markets slumped. Originally reported by BigGo Finance.
Weekend Flash Crash
Bitcoin, Ethereum and AI semiconductor perpetuals dropped sharply over the weekend, with SOXL falling 5.45% and MU 3.42%.
Leveraged Positions Liquidated
Millions of dollars in leveraged positions were liquidated within 10 minutes, with $38.1 million in longs and $13.5 million in shorts.
Crypto Rebound Pattern
Bitcoin slid $1,000 to $80,750 before rebounding $1,200 to $82,000, while Ethereum fell to $2,360 and returned to $2,410.
Global Markets Slump
S&P 500 down 1.95% at 7,659.44, Nasdaq 100 and Nikkei down 5%, KOSPI down 14.46%.
Kobeissi Letter Forecast
Kobeissi Letter suggested s&p 500 could reach 8,000 if past patterns hold, a 4.5% rise from friday's close.
Ukraine Strikes
Ukraine struck st. petersburg oil port, breaching earlier agreement to avoid targeting energy infrastructure.
No Direct Causal Link
No direct causal link was established between ukraine strikes and the flash crash.
At a glance
Bitcoin, Ethereum and AI semiconductor futures dropped sharply before rebounding, liquidating millions in leveraged positions as global markets slumped.
