Bitcoin 5% flash crash leads to $165M in leveraged crypto liquidations
Leverage traders are nursing losses of over $165 million, as the price of Bitcoin tumbled 5%.
A sudden 5% drawdown in the price of Bitcoin BTC$66,132 on Tuesday has seen traders with leveraged exposure to Bitcoin and other cryptocurrencies rack up over $165 million in losses in less than two hours.
Bitcoin plunged 5% from $69,450 to as low as $65,970 in less than 30 minutes in early hours on March 2 UTC, per TradingView data.
