# Crypto and AI Perpetuals Flash Crash

> Weekend flash crash in crypto and AI perpetuals sparks 'Black Monday' fears.
- Title: Crypto and AI Perpetuals Flash Crash · BigGo Finance
- Summary: Weekend flash crash in crypto and AI perpetuals sparks 'Black Monday' fears. Bitcoin, Ethereum and AI semiconductor futures dropped sharply before…
- Keywords: bitcoin, ethereum, soxl, sndk, s&p 500, nasdaq 100, nikkei, kospi, kobeissi letter, volodymyr zelenskyy, st petersburg, Crypto
- Source: BigGo Finance — https://finance.biggo.com/news/7211892e-2808-4940-85d1-35da1e24364c
- Author: BigGo Finance
- Published: 2026-10-18T18:15:48+00:00
- Read time: 1 min
- Topics: bitcoin, ethereum, soxl, sndk, mu, s&p 500, nasdaq 100, nikkei, kospi, kobeissi letter, volodymyr zelenskyy, st petersburg
## 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.
## Key takeaway

Bitcoin, Ethereum and AI semiconductor futures dropped sharply before rebounding, liquidating millions in leveraged positions as global markets slumped.