Bitcoin flash crashed to $73,510 before the weekly candle close, liquidating $715 million in long positions within 1 hour, while the ETH/BTC exchange rate simultaneously flash crashed 4.22%.

BlockBeats news, November 9th, according to HTX market data, Bitcoin staged a flash crash and pin bar maneuver just before the daily and weekly K-line close this morning, dropping 2.77% within 15 minutes and hitting a low of $73,510, before gradually rebounding to the starting point of the flash crash, now trading at $75,418.

According to Coinglass data, Bitcoin liquidated $74,500 in that 1-hour window, almost entirely long positions ($715 million), with short positions liquidating only $29.62 million. The largest liquidations were Bitcoin and Ethereum, liquidating $343 million and $229 million respectively.

Notably, Ethereum showed greater weakness during this flash crash, plunging 7.3% within 15 minutes to a low of $2,060, but then only narrowing losses to 2.42%, now trading at $2,151, still down 3.22% from the starting point. Data shows the ETH/BTC exchange rate fell 4.22% during this flash crash, now at 0.0285, hitting a new low since the September peak.

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As of 8:00, the liquidation of positions across the entire network in the past 24 hours had risen to US$491 million, of which US$219 million had been liquidated for long orders and US$273 million had been liquidated for short orders.

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