{"id":215431,"date":"2021-03-31T11:34:44","date_gmt":"2021-03-31T08:34:44","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-flash-crashes-by-2k-in-5-minutes-liquidating-600m-in-longs\/"},"modified":"2021-03-31T11:34:44","modified_gmt":"2021-03-31T08:34:44","slug":"bitcoin-flash-crashes-by-2k-in-5-minutes-liquidating-600m-in-longs","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-flash-crashes-by-2k-in-5-minutes-liquidating-600m-in-longs\/","title":{"rendered":"# Bitcoin flash crashes by $2K in 5 minutes, liquidating $600M in longs"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6afa0d1c55bee\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6afa0d1c55bee\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-flash-crashes-by-2k-in-5-minutes-liquidating-600m-in-longs\/#BTC_sees_sudden_volatility\" >BTC sees sudden volatility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-flash-crashes-by-2k-in-5-minutes-liquidating-600m-in-longs\/#Funding_rates_creep_up\" >Funding rates creep up<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin flash crashes by $2K in 5 minutes, liquidating $600M in longs <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) fell over $2,000 in five minutes on March 31 as a wave of volatility disrupted an otherwise calm market.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/31f1a181-1291-4cc2-b72a-f27cbe813ff9.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-minute candle chart (Bitstamp). Source: Tradingview<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"BTC_sees_sudden_volatility\"><\/span>BTC sees sudden volatility<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">Tradingview<\/a>\u00a0showed a nightmare for long traders unfold on Wednesday, with BTC\/USD suddenly dropping from $59,350 to $57,000.<\/p>\n<p>At the time of writing, the losses were still mounting after the pair hit lows of $56,713 on Bitstamp.\u00a0<\/p>\n<p>&#8220;Exactly Bitcoin,&#8221; trader Micha\u00ebl van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1377171034684542980\">reacted<\/a> to what has become a familiar event on short timeframes for Bitcoin.<\/p>\n<p>Previously, upside had been the focus for day traders as <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> from PayPal spawned a run-up to just below $60,000.<\/p>\n<p>Those betting on a continuation of the bull run lost big on Wednesday, however, as the downturn liquidated long positions worth $600 million amid a 24-hour total wipeout of\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bybt.com\/LiquidationData\">$1 billion<\/a>.<\/p>\n<p>For quant analyst PlanB, their demise was nonetheless beneficial, helping to rid the market of unwanted leverage and ensure more organic future rises. As Cointelegraph reported, similar events have occurred with both long and short positions in recent months.<\/p>\n<p>&#8220;Beautiful stop loss hunting .. again,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/100trillionUSD\/status\/1377171664367017988\">commented<\/a> on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>. <\/p>\n<blockquote><p>&#8220;Now that all leveraged longs are liquidated, we finally have room for breaking $60K in April.&#8221;<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Funding_rates_creep_up\"><\/span>Funding rates creep up<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Meanwhile, indicators showed reason to believe that further price increases for Bitcoin would need some work.<\/p>\n<p>Funding rates across derivatives platforms were higher on the day, reaching as high as 0.375% on Huobi, a classic sign that downward pressure is incoming.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/12382d2c-b18d-43ba-834b-b5ec2b65583d.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin funding rates vs. BTC\/USD chart. Source: Bybt<\/em><\/figcaption><\/figure>\n<p>The longer-term picture remains more than positive, with analysts pointing to $68,000 and $73,000 as the next hurdles to watch.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-flash-crashes-by-2k-in-5-minutes-liquidating-600m-in-longs\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin flash crashes by $2K in 5 minutes, liquidating $600M in longs &#8221; Bitcoin (BTC) fell over $2,000 in five minutes on March 31 as a wave of volatility disrupted an otherwise calm market. BTC\/USD 1-minute candle chart (Bitstamp). Source: Tradingview BTC sees sudden volatility Cointelegraph Markets Pro and Tradingview\u00a0showed a nightmare for long&#8230;<\/p>\n","protected":false},"author":1,"featured_media":215432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvOWMyMTgxMTItYTI2YS00NjFlLTg4MTEtMTQxOGY0OWU1NmNhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-215431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/215431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=215431"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/215431\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/215432"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=215431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=215431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=215431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}