Bitcoin Suffers Flash Crash to $80K on Hyperliquid

Bitcoin (BTC) faced a significant flash crash, dropping $3,000 within a minute on the Hyperliquid platform, falling from $83,307 to $80,255 before quickly rebounding to around $83,000. This sudden downturn was mainly fueled by the liquidation of large leveraged positions, with five accounts seeing liquidations totaling $10 million each and the largest reaching $36.78 million. In contrast, other platforms reported milder effects, with Bitcoin's price remaining above $81,000. The market has been characterized by volatility, with broader implications for the cryptocurrency landscape, including liquidations totaling $1.7 billion among crypto bulls as Bitcoin approached the $80K mark. The overall market sentiment remains tense, particularly as external factors contribute to uncertainty, including regulatory discussions and market dynamics that have recently affected other cryptocurrencies like Dogecoin, which has shown bearish trends as well.

Source 🔗