Why the price of Bitcoin has crashed to $ 22.2,000: analyst

Why the price of Bitcoin has crashed to $ 22.2,000: analyst

During Bitcoin's decline one day after the Silvergate Bank's operational challenges are opened, some seem to believe that the nature of the crash was far too fast to be a direct consequence of turbulence.

In fact, the 5-minute diagram shows that the 5%-crash has happened in no more than 20 minutes.

binance, 5 million

  • The move caused a significant tick for the liquidations, which are currently running to around $ 243 million in the last 24 hours.
  • And during the crash shortly after the Silvergate Bank uncovered many operational challenges and many crypto companies left the ship, nature seems to be wrong.
  • intraday dealer and creator of delta-based trading systems 52 at an angle took it to Twitter to clarify the reason for this special crash.

btc-well, not a sharp squeeze-up, but a sharp margin cascade here.

What led to this step is a large Binance spot sale directly into an area with stacked longs.

Major request.

now, no Sharp squeeze-up, but a sharp margin cascade here.

What led to this step is a large Binance spot sale directly into an area with stacked longs.

Major request pic.twitter.com/bkyrfczkjs

- slanted δ (@52KSKEW) 3. March 2023

The contribution "Why Bitcoin’s Price Crashed to $ 22.2k in Minutes: Analyst" first appeared on Cryptopotato.

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