Crypto's Weekend Wipeout Exposes a Glaring Flaw in Wall Street's Bitcoin ETFs
While traders blinked, the price of Bitcoin fell by more than $12,000--falling from near $123,000 to below $107,000 in minutes.
Last weekend, the market for digital assets hit disarray in an extraordinary show of volatility, driving other major cryptocurrencies like Ethereum and Solana down.
This carnage created one of the largest liquidation events in history, signaling the inherent risks in the fast-evolving market and an integral design flaw in Wall Street-endorsed vehicles for investing.
According to market analysts, the event triggered a “cascade” of forced selling, resulting in an unprecedented financial bloodbath.
A clear signal of 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's weekend wipeout exposes Wall Street's Bitcoin ETFs flaw.
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