Bitcoin Flash Crashes 4.8% Before Bouncing Back, Causing $560 Million in Liquidations in One Hour

BlockBeats News, June 25th. Due to the impact of the volatile U.S. stock market, Bitcoin experienced a flash crash of 4.8% in less than 1 hour. At the time of writing, the price has temporarily recovered to $59,308.38.

However, during the flash crash, there were a total of 5 contract positions worth over $10 million liquidated, resulting in a total of $560 million in liquidations across the entire network in just under 1 hour.