Crypto's Weekend Wipeout Exposes a Glaring Flaw in Wall Street's Bitcoin ETFs
The price of Bitcoin fell by more than $12,000, from near $123,000 to below $107,000 in minutes, causing shockwaves in the entire ecosystem.
This led to a significant decline in other major cryptocurrencies like Ethereum and Solana, resulting in one of the largest liquidation events in history.
The event triggered a “cascade” of forced selling.
The incident highlights the inherent risks in the fast-evolving market and an integral design flaw in the new Wall Street-endorsed vehicles for investing.
Author's summary: Crypto market volatility exposes flaw in Bitcoin ETFs.