Bitcoin flash crash wipes $1B in ‘speculative excess’ from markets
Billions of dollars in leverage was wiped from the crypto market as Bitcoin plunged 14% in a few hours after briefly notching a new all-time high. Crypto traders using options and futures to gain exposure to Bitcoin are out of pocket a staggering $1 billion after the cryptocurrency crashed more than 14% from its new all-time high of $69,200 on March 5. The price of Bitcoin briefly notched a new all-time high just above $69,200 on March 5, only slightly higher than its previous peak of $69,044 in November 2021.
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