BitMEX Leaderboard Trader Fears Bitcoin Could See a Second “Flash Dump”


Bitcoin has slid lower over the past 24 hours as the cryptocurrency failed to surmount $12,000 in the latest leg higher. As of the time of this article’s writing, BTC trades for $11,600 — 5% shy of the local highs. Investors are still reeling from the flash crash that transpired approximately one week ago. While that was seemingly a black swan event, a trader is fearing a secondary event. The individual in question is a two-time BitMEX return on equity (ROE) leaderboard trader, meaning he has a strong track record. Bitcoin Could See a Secondary Flash Crash: Analyst Last Saturday, the crypto market saw its biggest crash since the March 13th “Black Thursday” event. In the span of about five minutes, Bitcoin dropped by $1,700 and Ethereum by $90. These were drops of around 15% and 22%, respectively. During this flash crash lower, approximately $1 billion worth of liquidations took…

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